MORRISVILLE, N.C., Nov. 5, 2014 /PRNewswire/ -- Alliance One International, Inc. (NYSE: AOI), a global, independent leaf merchant, has announced that the company has been selected to supply U.S. tobacco to Philip Morris International Inc. ("PMI"), as PMI adopts a new leaf procurement model in the United States and Canada.
On Nov. 5, 2014, PMI announced its decision to transition from direct contracting and purchasing of tobacco from U.S. growers to sourcing its U.S. tobacco requirements from Alliance One International, Inc. and another global leaf merchant, effective for the 2015 crop. PMI's supply chain modification will position AOI to expand its North American footprint to include additional tobacco growers, and further expand the availability of North American tobacco to the wider, global market.
AOI and its predecessor companies have supplied tobacco to PMI for many decades. The two companies work closely together to advance continuous positive change in tobacco-growing communities on a global basis. This work includes the promotion of Good Agricultural Practices ("GAP") that provide growers knowledge and skills to produce higher quality cash and food crops with improved yields, while striving to mitigate environmental and social impacts. Alliance Oneis committed to action-oriented social responsibility and the best practices set forward in its Agricultural Labor Practices code.
"The U.S. tobacco market has undergone substantial changes over the past decade, and continues to evolve at a rapid pace," said Pieter Sikkel, president and CEO of Alliance One International. "PMI remains committed to sourcing in the U.S. market, and this transition ensures that PMI will continue to purchase high quality U.S. leaf through an optimized and efficient supply chain, while Alliance One expands its U.S. grower base and full service business."
"We remain proudly committed to our current, well-established U.S. grower partners and look forward to working with a new grower base as well as other service providers," said Herbert Weatherford, AOI's Regional Director for North and Central America. "The broader grower base better positions Alliance One to expand the availability of U.S. and Canadian tobacco to domestic and international markets."
About Alliance One International, Inc.:
Alliance One International (AOI) is a leading independent leaf merchant which selects, purchases, processes, packs, stores, and ships leaf tobacco to customers in more than 90 countries across the globe. Committed to helping farmers become more sustainable and produce higher yielding and higher quality tobacco, food and cash crops, the company also provides agronomy expertise and financing to suppliers. For more information, visit www.aointl.com.
This press release contains forward-looking statements. Actual results may differ materially from those reflected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained under the heading of "Risk Factors" listed from time to time in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K.
SOURCE Alliance One International, Inc.
Investor Inquiries, Joel L. Thomas, Executive Vice President - Chief Financial Officer, Alliance One International, Phone: +1 (919) 379-4300 or Media Contact, Jennifer Fair, Corporate Communications & Compliance Manager, Alliance One International, Phone: +1 (919) 379-4300Back to News