http://www.tobacco.org/newsfeed/org/stw.rss Latest top tobacco news headlines en-us http://biz.yahoo.com/prnews/050513/dcf050.html?.v=3 http://tobacco.org/news/197033.html Alliance One International, Inc. (NYSE: AOI ), the successor by merger of DIMON Incorporated ("DIMON") and Standard Commercial Corporation ("Standard"), announced today the expiration of (i) DIMON's previously announced cash tender offer PR Newswire Fri, 13 May 2005 04:00:00 GMT http://biz.yahoo.com/prnews/050513/dcf048.html?.v=3 http://tobacco.org/news/197032.html Alliance One International, Inc. (NYSE: AOI), announced today completion of the merger of DIMON Incorporated and Standard Commercial Corporation. The merger, originally announced November 8, 2004, creates a leading global independent leaf tobacco merchant with broad geographic processing capabilities, a diversified product offering and an established customer base, including all of the world's major consumer tobacco products companies. As a result of the merger, Alliance One is one of only two global independent leaf tobacco merchants, each with substantially similar global market shares. Brian J. Harker, Chairman and Chief Executive Officer, stated, "With Alliance One we are creating a strategic profile that will be fully in step with the evolution of our industry and our customers' needs. Alliance One will emphasize value-added services, industry-leading tobacco processing capabilities, information technology advancements, new product development and global agronomic programs. We will now have the scale that will better position us to partner with all our customers in a true supply chain alliance." PR Newswire Fri, 13 May 2005 04:00:00 GMT http://biz.yahoo.com/prnews/050425/dcm007.html?.v=8 http://tobacco.org/news/195648.html DIMON Incorporated (NYSE: DMN) announced today that, as part of its previously announced cash tender offer to purchase any and all of its outstanding (i) $200.0 million aggregate principal amount of 9 5/8% Senior Notes due 2011 (CUSIP #254394AE9) (the "9 5/8% Notes") and (ii) $125.0 million aggregate principal amount of 7 3/4% Senior Notes due 2013 (CUSIP #254394AJ8) (the "7 3/4% Notes" and, collectively with the 9 5/8% Notes, the "Notes"), and solicitation of consents to proposed amendments to each of the indentures governing the Notes, it is extending the expiration date of the tender offer. PR Newswire Mon, 25 Apr 2005 04:00:00 GMT http://biz.yahoo.com/prnews/050425/clm030.html?.v=8 http://tobacco.org/news/195647.html Standard Commercial Corporation (NYSE: STW) announced today that, as part of its previously announced cash tender offer to purchase any and all of its outstanding $150.0 million aggregate principal amount of 8% Senior Notes due 2012, Series B (CUSIP #853258AF8) (the "Notes"), and solicitation of consents to proposed amendments to the indenture governing the Notes, it is extending the expiration date of the tender offer. PR Newswire Mon, 25 Apr 2005 04:00:00 GMT http://rdu.news14.com/content/headlines/Default.asp?ArID=67023&SecID=2 http://tobacco.org/news/194472.html Hundreds of Wilson tobacco workers are getting permanent pink slips. In March, Standard Commercial told employees the doors will stay closed at one of its two seasonal tobacco plants in Wilson. Moses Horne doesn't know if he'll still have a job after May 11th. "Well I'll just stay here until they get rid of me," he said. Horne also said he will be job hunting in the mean time. News 14 Carolina Wed, 06 Apr 2005 04:00:00 GMT http://www.nbc17.com/employment/4352576/detail.html?rss=tri&psp=news http://tobacco.org/news/194470.html Nearly 500 workers will lose their jobs when North Carolina's largest leaf tobacco dealer, Standard Commercial Corp., closes a plant in Wilson early next month in a merger with a former competitor. Standard Commercial has notified the state that 491 workers will be laid off when the company closes one of its two Wilson tobacco processing factories. Dimon Inc., which is buying Standard Commercial for $255 million plus debt, is closing one of its two Virginia plants. That layoff will affect 500 workers in Danville, Va. AP Wed, 06 Apr 2005 04:00:00 GMT http://biz.yahoo.com/prnews/050401/clf075.html?.v=1 http://tobacco.org/news/194390.html Independent leaf tobacco merchants DIMON Incorporated (NYSE: DMN) and Standard Commercial Corporation (NYSE: STW) are pleased to announce that, at separate special meetings held today, their respective shareholders approved the merger of the two companies. More than 35 million of DIMON's outstanding shares were voted, with approximately 77% of total shares outstanding voted in favor of the merger proposal. More than 10 million of Standard's outstanding shares were voted, with approximately 74% of total shares outstanding voted in favor of the merger proposal. PR Newswire Fri, 01 Apr 2005 05:00:00 GMT http://biz.yahoo.com/prnews/050304/clf012_1.html http://tobacco.org/news/194389.html Independent leaf tobacco dealers DIMON Incorporated (NYSE: DMN) and Standard Commercial Corporation (NYSE: STW) today jointly announced that the U.S. Securities and Exchange Commission has declared effective a registration statement on Form S-4 containing the proxy statement/prospectus regarding the proposal to merge the two companies. Each of DIMON and Standard expects to begin mailing the proxy statement/prospectus to its shareholders today, Friday, March 4, 2005. Each of DIMON's and Standard's special meeting of shareholders will be held on Friday, April 1, 2005, at 3:30 pm EST, with shareholders of record at the close of business on February 10, 2005, entitled to vote at each meeting. PR Newswire Mon, 04 Apr 2005 04:00:00 GMT http://biz.yahoo.com/prnews/050407/dcth036.html?.v=5 http://tobacco.org/news/194388.html DIMON Incorporated (NYSE: DMN) today announced that in connection with its proposed merger with Standard Commercial Corporation it proposes to make a private offering of (1) $400 million in aggregate principal amount of unsecured Senior Fixed Rate Notes due 2013 and unsecured Senior Floating Rate Notes due 2012 and (2) $250 million in aggregate principal amount of unsecured Senior Subordinated Notes due 2015. PR Newswire Thu, 07 Apr 2005 04:00:00 GMT http://www.businessweek.com/ap/financialnews/D89AP1A00.htm?campaign_id=apn_home_down http://tobacco.org/news/194387.html Dimon Inc., one of the world's largest dealers of leaf tobacco, said Thursday that it will sell about $650 million of debt in a private offering connected to its planned purchase of rival Standard Commercial Corp. The company, which will change its name to Alliance One International Inc. after the acquisition closes, said it will use the funds, along with borrowings from a new $450 million credit line, to repay outstanding debt. On Friday, Dimon and Standard Commercial said shareholders of both companies approved the deal and they expect the acquisition to close this month. AP howard_manus@businessweek.com Thu, 07 Apr 2005 04:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/03-04-2005/0003118881&EDATE= http://tobacco.org/news/191354.html Independent leaf tobacco dealers DIMON Incorporated (NYSE: DMN) and Standard Commercial Corporation (NYSE: STW) today jointly announced that the U.S. Securities and Exchange Commission has declared effective a registration statement on Form S-4 containing the proxy statement/prospectus regarding the proposal to merge the two companies. Each of DIMON and Standard expects to begin mailing the proxy statement/prospectus to its shareholders today, Friday, March 4, 2005. Each of DIMON's and Standard's special meeting of shareholders will be held on Friday, April 1, 2005, at 3:30 pm EST, with shareholders of record at the close of business on February 10, 2005, entitled to vote at each meeting. PR Newswire Fri, 04 Mar 2005 05:00:00 GMT http://newsobserver.com/business/story/1812589p-8117230c.html http://tobacco.org/news/181303.html Standard Commercial, the biggest tobacco dealer based in North Carolina, announced Monday it would merge with a larger competitor, creating a company with expanded global reach as cigarette companies buy more tobacco from growers overseas. Dimon, the world's No. 2 leaf tobacco dealer, plans to buy Wilson-based Standard Commercial, which is the world's third-biggest tobacco dealer, in a stock deal worth about $255 million, plus debt. The companies buy tobacco from growers, process the crop and sell it to tobacco product companies, such as Philip Morris, the maker of Marlboro and other cigarettes. "Strategically, operationally and financially, this is the right transaction at the right time -- combining two companies that are the right fit," Brian J. Harker, Dimon's chief executive, said during a conference call Monday. Raleigh News & Observer jack.hagel@newsobserver.com (JACK HAGEL/ Staff Writer) Tue, 09 Nov 2004 05:00:00 GMT http://www.journalnow.com/servlet/Satellite?pagename=WSJ%2FMGArticle%2FWSJ_BasicArticle&c=MGArticle&cid=1031779033708&path=!business&s=1037645507703 http://tobacco.org/news/181274.html Dimon Inc., the world's second-largest tobacco-leaf dealer, agreed yesterday to buy smaller competitor Standard Commercial Corp. of Wilson, N.C., for about $255 million in stock. The transaction values Standard Commercial's 13.7 million outstanding shares at $18.66 each, a 13.8 percent premium, according to the companies' joint statement. Including Standard Commercial's debt minus its cash as of June 30, the transaction is valued at about $670 million. Dimon shareholders will control 52 percent of the new DimonStandard Inc., which will be headed by Brian Harker, Dimon's chief executive. Winston-Salem Journal Spain Brazil Malawi Usa Tue, 09 Nov 2004 05:00:00 GMT http://money.excite.com/jsp/nw/nwdt_rt_top.jsp?cat=TOPBIZ&src=704&feed=dji&section=news&news_id=dji-00044720041108&date=20041108&alias=/alias/money/cm/nw http://tobacco.org/news/181266.html DimonStandard, the company being created out of Dimon Inc. (DMN) and Standard Commercial Corp. (STW), anticipates paying an annual dividend of 30 cents a share, Dimon Chairman Brian Harker said Monday. Dimon currently pays an annual dividend of 30 cents a share, while Standard Commercial pays 35 cents a share. In the deal, however, Standard Commercial shareholders are set to receive three shares of Dimon common stock for each Standard Commercial share. As a result, on an equivalent-share basis, Standard holders would receive 90 cents in annual dividends following the $670 million transaction, a spokesman for Standard said. Dow Jones via IWon maryellen.lloyd@ dowjones.com (Mary Ellen Lloyd, Dow Jones Newswires) Mon, 08 Nov 2004 05:00:00 GMT http://online.wsj.com/article/0,,BT_CO_20041108_006917,00.html http://tobacco.org/news/181265.html A deal to combine the world's No. 2 and No. 3 tobacco-leaf dealers and processors, Dimon Inc. (DMN) and Standard Commercial Corp. (STW), is the latest move in a consolidating global industry. Executives with Dimon and Standard said the stock transaction, valued at about $670 million, will enhance the companies' ability to compete for contracts with international cigarette producers and will strengthen their balance sheets. Universal Corp. (UVV) is the largest tobacco dealer and processor. "This has just been an extraordinarily competitive business with the leaf merchants for a number of years now," said Blake Brown, a professor of agricultural economics at N.C. State University in Raleigh, N.C., who follows the tobacco industry. . . . Dimon, Danville, Va., would hold a 52% stake in the combined company, with Standard Commercial holders controlling the remaining 48%. The deal is subject to shareholder approval and antitrust review by the U.S. Department of Justice, executives said. DimonStandard, as the new company will be called, may be required to file notice with various foreign governments, but antitrust approval from European Union officials isn't required, Dimon Chairman and Chief Executive Brian Harker said. Harker will retain those titles for DimonStandard, while Standard's chairman and chief executive, Robert E. "Pete" Harrison, will be president and chief operating officer of the new company. The Wall Street Journal Interactive Edition maryellen.lloyd@dowjones.com (Mary Ellen Lloyd, Dow Jones Newswires) Mon, 08 Nov 2004 05:00:00 GMT