R.J. Reynolds to pay Canada $323M
WINSTON-SALEM, N.C. — R.J. Reynolds Tobacco Co., a unit of Reynolds American Inc., said Tuesday that it will pay the Canadian government 325 million Canadian dollars ($323.4 million) as part of a deal to settle civil claims related to cigarette smuggling in the 1980s and 1990s.
R.J. Reynolds and parent company R.J. Reynolds Tobacco Holdings Inc. no longer sell tobacco in Canada. They sold their international businesses, including RJR-Macdonald Inc., to Japan Tobacco Inc. in 1999.
The company’s best-selling brands include Camel and Pall Mall.
If the company decides to sell tobacco products in Canada in the future, it must implement measures — including packaging and marketing — that will help Canadian authorities fight contraband.
Subsidiary Northern Brands International Inc. also agreed to pay 75 million Canadian dollars ($74.6 million) related to its plea to one count of conspiracy to aid others in the sale and possession of contraband cigarettes in Canada in the early 1990s.
Shares of Reynolds American, whose brands include Camel and Pall Mall, dropped 34 cents to $54.19 in afternoon trading.
To sign up for Mississippi Business Daily Updates, click here.
Mississippi Economic Council
Mississippi Chambers of Commerce
Mississippi State Legislature
Mississippi Development Authority
Mississippi Economic Development Council
North Mississippi News
Social Security Disability Lawyer
Auto Accidents Lawyer
Top Posts & Pages
- Comstock quits Tuscaloosa play on falling prices
- Clinton office complex sold for $20.5 million
- Ingalls to lease former SRHS clinic in Gautier for employee medical center
- Meadville mayor seeks Sojourner's Senate seat
- Shale oil: market correction or longterm direction?
- Miss. surgeon sentenced in tax evasion case
- PHIL HARDWICK: Characteristics of a good year-end fundraising letter
- Entergy plans three solar-power pilot projects
- Record soybean yield is valued at $1.17 billion