August 23, 1997 |
The head of RJR Nabisco Holdings Corp. said Friday that he intends to warn people in Third World countries of the dangers of smoking, even where warnings are not mandatory. Indeed, RJR is already doing that in many such countries, a company spokesman said. RJR chief Steven F. Goldstone joined a growing number of tobacco executives who have testified that cigarettes may be linked to cancer. "I have always believed that smoking plays a part in causing lung cancer.
December 17, 1997 |
RJR Nabisco Holdings Corp. said the company's international tobacco business will lay off 2,600 employees--14% of its foreign work force--in a major restructuring that will also include a $310-million charge against fourth-quarter earnings. Company officials said the job cutbacks will enhance RJR's competitive position in the increasingly important international tobacco arena and improve its long-term earnings growth prospects.
March 13, 1999 |
R.J. Reynolds Tobacco Co., the nation's second-largest cigarette maker, Friday sued its chief rival, Philip Morris Cos., accusing it of attempting to monopolize the U.S. retail cigarette market. In a federal lawsuit filed here, R.J. Reynolds said Philip Morris, maker of the top-selling Marlboro brand, is trying to corner retail space for its cigarettes through exclusive contracts with retailers.
November 2, 1990 |
Moving to cut its massive debt, which was incurred in the biggest leveraged buyout in history, RJR Nabisco Holdings Corp. said Thursday that it has retired $2.4 billion in junk bonds by swapping them for cash and stock. RJR said the swap--part of a $6.9-billion recapitalization program launched in July--gave bondholders cash and stock in the company in exchange for the bonds they traded in. The mountain of debt was incurred in the $25-billion leveraged buyout that was completed early last year.
September 18, 1998 |
Economic and political chaos gripping Russia has left RJR Nabisco Holdings Corp.'s R.J. Reynolds International tobacco unit no choice but to halt cigarette production there temporarily, a company spokesman said Thursday. Adam Bryan-Brown told Reuters that RJR, which has invested hundreds of millions of dollars over the last six years opening production facilities in Russia, has faced great difficulties in the Russian market.
July 23, 1997 |
Philip Morris Cos. and RJR Nabisco Holdings Corp. on Tuesday said second-quarter profits surged on strong international sales as the industry nears a $368.5-billion tobacco settlement that is expected to weaken U.S. sales. Philip Morris, the world's largest cigarette maker, said net income rose 13% to $1.84 billion, or 76 cents a share. RJR's profit from operations rose 11% to $242 million, or 71 cents. The results matched analyst estimates.