Alliance One International Announces Plans to Consolidate U.S. Tobacco Processing Operations
PYXUS INTL INC (PYX)
Company Research
Source: PR Newswire
MORRISVILLE, N.C., Nov. 7, 2018 /PRNewswire/ -- Alliance One International, a Pyxus International company (NYSE: PYX), today announced its plans to consolidate all its U.S. tobacco processing operations to its Wilson, NC, facility by September 2019. The decision resulted from a review of the Company's U.S. tobacco operations and reflects a confluence of significant global events and ongoing trade conditions including new and increased tariffs on U.S. tobacco, declining export demand and the strong U.S. dollar."We continually evaluate our operations and the global trade environment to ensure we are best positioned to meet the needs of our customers and sustain long-term growth," said Pieter Sikkel, Pyxus International President, CEO and Chairman of the Board. "While this difficult, but necessary, decision results from a confluence of events, we remain committed to the U.S. tobacco industry and continue to work diligently to improve the environment for our contracted growers. Consolidat
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