MORRISVILLE, N.C., Nov. 7, 2018 /CNW/ -- 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.
Consolidating our U.S. tobacco processing operations in
Wilson is designed to maximize
efficiency and allows us to continue to competitively deliver
value-added products and services to our customers."
As part of the consolidation, Alliance One plans to repurpose
its Farmville, NC, processing
facility, resulting in a workforce reduction. The current tobacco
processing operations in Farmville
will be relocated to the Wilson
facility, targeted to be effective as of the beginning of the 2019
season. The Company anticipates some jobs will shift from
Farmville to the Wilson facility. The Farmville facility will be repurposed for
storage and special projects.
"We recognize the impact this decision will have on our
employees, their families, and the Farmville community, and are committed to
helping those impacted as we consolidate our tobacco processing
operations," said Herbert
Weatherford, Alliance One International's Regional Director
of North and Central America. "We
are focused on the success of the U.S. tobacco industry, our
contracted farmers and driving strategy and long-term
sustainability to the U.S. market."
These changes will be discussed during the Company's earnings
call Thursday, Nov. 8, at
8 a.m. ET.
About Pyxus International, Inc.
Pyxus International
Inc. (NYSE: PYX) is a global agricultural company with 145 years'
experience delivering value-added products and services to
businesses and customers. Driven by a united purpose—to transform
people's lives, so that together we can grow a better world—Pyxus
International, its subsidiaries and affiliates, are trusted
providers of responsibly sourced, independently verified,
sustainable and traceable products and ingredients. For more
information, visit www.pyxusintl.com.
About Alliance One International
Alliance One
International is a leading independent leaf tobacco supplier.
Working with tobacco farmers in 30 countries around the world,
Alliance One is recognized for producing sustainable and traceable
leaf tobacco.
View original
content:http://www.prnewswire.com/news-releases/alliance-one-international-announces-plans-to-consolidate-us-tobacco-processing-operations-300745991.html
SOURCE Alliance One International