Alliance One And China Tobacco Complete Formation Of JV Company In Brazil

(RTTNews) - Alliance One International Inc. (AOI) said Monday that its Brazilian subsidiary Alliance One Brasil Exportadora de Tabacos or AOB and China Tabaco Internacional do Brasil or CTIB, the Brazilian subsidiary of China Tobacco, completed the formation of a new joint venture company, China Brasil Tobacos Exportadora SA or "CBT" in Brazil on March 26, 2014.

CBT has operated as an independent subsidiary of AOB for the last two crops and currently contracts with 9,500 integrated growers. The joint venture's administrative, buying and processing functions operate in Alliance One´s facilities in Venancio Aires. The joint venture is owned 51% by CTIB and 49% by AOB.