CHINA TOBACCO INDUSTRY CONSOLIDATION CONTINUES; SECTOR NOW EYEING FOREIGN MARKETS
October 1st, 2008
BY WANG FANGQING
THE HONGHE Group and the Hongyun Group, the two major Chinese tobacco companies located in the key tobacco-growing Yunnan province have recently (WHEN EXACTLY?) submitted a merger agreement to the State Tobacco Monopoly Administration (STMA), the Beijing-based industry watchdog. If the deal is approved, the new company would be the fourth largest cigarette manufacturer in the world with an annual production of over 5 million cases, or 25 billion cigarettes.
It would be the latest deal in a continuing process of consolidation in the China ...
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