Jump to full article: All-Africa.com, 2006-04-04
Author: Kingsley Kaswende Lusaka / The Post (Lusaka)
Intro: The British American Tobacco (BAT) Plc board has assured the company's shareholders that the company will not pull out of Zambia.
The board had a tough time last Friday at the company's annual general meeting trying to explain the company's new business model, which the minority shareholders did not favour.
The board has proposed a change in the company's strategy, to focus only on the marketing and distribution of cigarettes. It proposed the cessation of cigarette manufacturing at the company's Lusaka factory by June 30, 2006 and the disposal of the current head office and factory and any other assets no longer required by the company following the cessation of cigarette manufacturing.
About 80 workers will lose jobs as the multinational company closes down its manufacturing plant opting for importation and distribution of cigarettes from Kenya and South Africa.
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