http://www.tobacco.org/newsfeed/org/rothmansbh.rss Latest top tobacco news headlines en-us http://www.nationalpost.com/news/canada/story.html?id=2026154 http://tobacco.org/news/290243.html There can scarcely be an easier pitch to voters than promising to pass laws that could discourage kids from smoking. That's probably what the Conservatives thought when they promised during last fall's election to ban the sale of candy-and fruit-flavoured tobacco products. At a news conference, Stephen Harper wagged before the cameras rainbow-coloured packages of cigarillos, infused with flavours like banana split, bubble gum and cherry. "These products are packaged as a candy, and this is totally unacceptable," the Prime Minister said. "This can't continue." A nation of alarmed parents nodded its head in agreement. But somewhere along the way, the Conservatives' attempt to make good on their populist promise set off controversies over NAFTA, unemployment and crime so serious that several Tory MPs who initially voted for the law have now withdrawn their unconditional support. Under scrutiny now by a Senate committee, Bill C-32 appears to have turned from a presumed legislative cakewalk -- it sailed through all three readings in the House -- into a political morass. Ironically, some critics think it is the bureaucrats of Health Canada who are to blame for the delay, and possibly the imperilment of the law. "In addition to violating a fundamental principle, this legislation could have important negative repercussions," wrote Quebec MP Maxime Bernier on his blog yesterday, explaining why he now opposes the bill in its current form. "Among which [are] an increase in contraband sales, a violation of our international commercial obligations, and the closing of the Rothmans plant in Quebec City which employs 330 workers." . . . "There is no justification to single out American blend cigarettes in the Canadian legislation, as the ban of this product would not achieve a meaningful public health benefit or discourage youth smoking," North Carolina Congressman G. K. Butterfield wrote in a letter to Canada's ambassador, Michael Wilson, this week. Bill C-32 has also become a political embarrassment for the Conservatives in Quebec, and in its primary base there, the Quebec City region. American parent firm Philip Morris had planned to equip its Rothmans Benson and Hedges plant in the city to produce American blend cigarettes for the export market. Company executives warn the new law could lead to the plant's closure. National Post Canada Thu, 24 Sep 2009 04:00:00 GMT http://www.theglobeandmail.com/news/national/amend-tobacco-bill-or-quebeckers-will-lose-jobs-us-firm-warns/article1299277/ http://tobacco.org/news/290196.html Canadian tobacco heavyweight Rothmans, Benson & Hedges is threatening to close a Quebec factory employing more than 300 people if Ottawa doesn't narrow the scope of a bill aimed at stopping the manufacture of candy- and fruit-flavoured cigars and cigarettes. The Harper government promised the legislation during last year's election campaign as a means of cracking down on tobacco products that appeal to children. But concerns over its Quebec impact are making Conservative MPs in that province eager to accommodate Rothmans. Rothmans, today 100-per-cent owned by international tobacco giant Philip Morris International, says the legislation, Bill C-32, is too broad and would also ban flavourings traditionally employed to make "American-blend" cigarettes in Canada for local and export markets. Far less popular with Canadians than Virginia tobacco cigarettes, an American blend of several tobaccos can include sweeteners or flavourings to dispel bitter or harsh tastes. These cigarettes, however, don't taste like candy or fruit. "The current wording of Bill C-32 puts the future of RBH's factory in Quebec City in jeopardy," Rothmans spokesman Bert Van Gossum said. "RBH employs 750 people in Canada, including more than 300 in its Quebec factory alone." Mr. Van Gossum said his company backs efforts to ban fruit- and candy-flavoured cigars and cigarettes, but says if the legislation isn't fixed it will undermine Rothmans's current business plan in Canada. Globe and Mail Canada Thu, 24 Sep 2009 04:00:00 GMT http://cd989.com/modules/news/article.php?storyid=15494&com_id=34147&com_rootid=34038& http://tobacco.org/news/279452.html The Ontario Flue Cured Tobacco Grower's Marketing Board is looking into a class action lawsuit against the tobacco companies who pled guilty to smuggling. Imperial Tobacco Canada as well as Rothmans Benson and Hedges pled guilty in July, and as a result, their cash settlement is what is funding the Tobacco Transition Program. CD98.9 Wed, 25 Feb 2009 05:00:00 GMT http://cd989.com/modules/news/article.php?storyid=15494 http://tobacco.org/news/279286.html The Ontario Flue Cured Tobacco Grower's Marketing Board is looking into a class action lawsuit against the tobacco companies who pled guilty to smuggling. Imperial Tobacco Canada as well as Rothmans Benson and Hedges pled guilty in July, and as a result, their cash settlement is what is funding the Tobacco Transition Program. The tobacco board with the help of their lawyer Werner Keller of Sutts, Strosberg are looking into any legal proceedings that could take place because of the guilty plea. CD98.9 Canada Wed, 25 Feb 2009 05:00:00 GMT http://www.cnw.ca/en/releases/archive/October2008/09/c5123.html http://tobacco.org/news/272849.html Rothmans Inc. announced today that, since the offer by PMI was accepted by shareholders holding more than 90% of Rothmans Inc. common shares, PMI has exercised its rights under the compulsory acquisition provisions of the Canada Business Corporations Act to acquire all of the outstanding common shares of Rothmans Inc. not already owned by PMI at the price C$30.00 cash per share. Further details are provided in PMI's Notice of Compulsory Acquisition which is available on SEDAR at www.sedar.com under the SEDAR profile of Rothmans Inc. For further information: Barry Joslin, (416) 442-3634 Canada Newswire Thu, 09 Oct 2008 04:00:00 GMT http://www.forbes.com/feeds/ap/2008/09/30/ap5489089.html http://tobacco.org/news/271769.html Philip Morris International, maker of Marlboros overseas, said Tuesday it has bought about 94 percent of the stock of Canadian cigarette maker Rothmans Inc. The company said it bought all the shares that were tendered and will pay for any remaining shares on Thursday. It said shareholders of about 63.9 million shares had responded to its tender offer. AP Canada Tue, 30 Sep 2008 04:00:00 GMT http://money.cnn.com/news/newsfeeds/articles/djf500/200809170851DOWJONESDJONLINE000593_FORTUNE5.htm http://tobacco.org/news/271297.html Philip Morris International Inc.'s (PM) planned C$2 billion acquisition of Rothmans Inc. (ROC.T) moved closer to completion as more than two-thirds of shares outstanding have been tendered in favor of the deal. Dow Jones Newswire Canada Wed, 17 Sep 2008 04:00:00 GMT http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20080912005790&newsLang=en http://tobacco.org/news/271118.html Philip Morris International Inc. (NYSE/Euronext Paris: PM) today received Ministry of Industry approval pursuant to the Investment Canada Act in connection with the company's proposed acquisition of Rothmans Inc. (TSX: ROC). The issuance of this approval satisfies the last remaining regulatory condition to the company's acquisition offer dated August 7, 2008. In connection with the determination of net benefit, the company provided certain undertakings, including pledges to continue to operate Rothmans, Benson & Hedges Inc.'s current manufacturing facilities in Canada, invest in their modernization and provide minimum employment assurances. Business Wire Canada Fri, 12 Sep 2008 04:00:00 GMT http://www.cnw.ca/en/releases/archive/September2008/05/c9926.html http://tobacco.org/news/270754.html Philip Morris International Inc. (NYSE / Euronext Paris: PM) announced today that it has extended the expiry of its CAD $30.00 per share cash offer to purchase all of the outstanding common shares of Rothmans Inc. (Rothmans). The extension is procedural, being related to the last remaining regulatory approval required for the transaction, namely a determination of net benefit by the Minister of Industry pursuant to the Investment Canada Act. Canada Newswire Canada Fri, 05 Sep 2008 04:00:00 GMT http://www.cnw.ca/en/releases/archive/August2008/21/c5928.html http://tobacco.org/news/270317.html Rothmans Inc. announced today that its 60%-owned subsidiary, Rothmans, Benson & Hedges Inc. ("RBH") is repaying its currently outstanding 5.552% Senior Unsecured Bonds due December 21, 2011 in the principal amount of C$150 million (the "Bonds"). Canada Newswire Canada Thu, 21 Aug 2008 04:00:00 GMT http://www.cnw.ca/en/releases/archive/July2008/31/c8810.html http://tobacco.org/news/270108.html Rothmans Inc. announced today that an agreement has been reached with the Government of Canada and the governments of all ten provinces that resolves the RCMP's investigation relating to sales of products exported from Canada by Rothmans, Benson & Hedges Inc. ("RBH") in the period 1989 - 1996. Under the terms of the comprehensive agreement, payments expected to total C$550 million are to be made commencing in 2008 and over the next ten years. As part of the overall resolution, RBH has entered a plea of guilty to a single count of violating a provision of the Excise Act (Canada). As previously disclosed, the RCMP investigation related to allegations that some of the tobacco products manufactured and exported by RBH were illegally smuggled back into Canada without payment of applicable excise and tobacco taxes and duties. RBH and Rothmans Inc. have agreed to this overall resolution in order to bring closure to this legal matter and to put an end to the uncertainty and burden on the companies arising from the RCMP's investigation. . . The resolution of the RCMP investigation was a condition of an agreement, also announced today, by Philip Morris International Inc. to make an offer to purchase all outstanding shares of Rothmans Inc. at a price of $30.00 per share. Canada Newswire Canada Thu, 31 Jul 2008 04:00:00 GMT http://ca.reuters.com/article/businessNews/idCAN1245039720080812?sp=true http://tobacco.org/news/270047.html Rothmans Inc (ROC.TO), which is being bought by Philip Morris International Inc (PM.N), reported a first-quarter loss on Tuesday, hurt by expenses after it admitted to helping tobacco smuggling. Canada's No. 2 cigarette maker said it lost C$354.4 million ($334 million), or C$5.20 a share, compared with a profit of C$33.8 million, or 49 Canadian cents a share, a year earlier. Rothmans said its profit was hit by expenses relating to a settlement involving its unit Rothmans Benson & Hedges Inc, which in late July admitted to aiding the contraband tobacco trade. Reuters Canada Tue, 12 Aug 2008 04:00:00 GMT http://news.yahoo.com/s/nm/20080812/wl_canada_nm/canada_rothmans_col_1 http://tobacco.org/news/269977.html Rothmans Inc, which is being bought by Philip Morris International Inc, reported a first-quarter loss on Tuesday, hurt by expenses relating to a police investigation into tobacco smuggling. Canada's No. 2 cigarette maker said it lost C$354.4 million ($331 million), or C$5.20 a share, compared to a profit of C$33.8 million, or 49 Canadian cents a share, a year earlier. Rothmans said profits were hurt by expenses relating to a settlement involving its unit Rothmans Benson & Hedges Inc, which in late July admitted to helping smugglers. Reuters Canada Tue, 12 Aug 2008 04:00:00 GMT http://www.cnw.ca/en/releases/archive/August2008/12/c3416.html http://tobacco.org/news/269972.html Rothmans Inc. (the "Company") incurred a loss of $354.4 million for the first quarter or ($5.20) basic loss per share, compared to earnings of $33.8 million or $0.50 basic earnings per share in the same quarter of fiscal 2008. The loss in the period results from the expenses incurred in connection with the previously announced resolution of the RCMP investigation, the make-whole premium associated with Rothmans, Benson & Hedges Inc.'s $150 million 5.552% senior unsecured bonds, series A and certain expenses associated with the offer by a wholly-owned indirect subsidiary of Philip Morris International Inc. These expenses are described in more detail below and in the accompanying MD&A for the quarter ended June 30, 2008. Adjusted operating earnings and adjusted operating earnings per share were $35.4 million(1) and $0.52(1) per basic share versus $33.8 million and $0.50 per basic share in the comparable period in the prior year primarily due to lower income tax rates in the recent quarter. Adjusted operating earnings exclude the impact of the expenses described above. Sales at the Company's 60%-owned subsidiary, Rothmans, Benson & Hedges Inc. (RBH), net of excise duty and taxes, decreased to $176.2 million in the most recent quarter compared with $177.4 million in the first quarter of fiscal 2008. Continued consumer movement into the cigarette price category and higher trade program spending were only partially offset by price increases implemented during the first quarter of fiscal 2009. Canada Newswire Canada Tue, 12 Aug 2008 04:00:00 GMT http://www.canada.com/windsorstar/news/business/story.html?id=718138 http://tobacco.org/news/269969.html A $415-million charge related to the settlement of smuggling charges pushed Rothmans Inc.'s first-quarter earnings into the red, the company said Tuesday. Toronto-based Rothmans reported a net loss of $354.4-million ($5.20 a share) for the quarter ending June 30, compared with net earnings of $39-million (50 cents) in the year-earlier quarter. . . . Excluding the charges, Toronto-based Rothmans was cash positive. Windsor Star feedback@canada.com (Jamie Sturgeon, Financial Post ) Canada Tue, 12 Aug 2008 04:00:00 GMT