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Saturday, July 16, 2005

BAT to move its production to Romania

British American Tobacco plans to close its last two factories in Britain and Ireland, with the loss of around 600 jobs, as it looks to switch cigarette production to Asia and continental Europe.

The world's second-largest cigarette group, which makes Lucky Strike, Kent, Dunhill and Pall Mall brands worldwide, said on Wednesday it was seeking to close its Southampton factory within 18 to 24 months, with the loss of around 530 jobs.

The restructuring will cost around 160 million pounds said BAT, most of that charged to 2005, but would save 40 million pounds a year thereafter .The remaining Southampton production will probably switch to Romania, Switzerland and Poland.

Thanks to Cristi for the tip.

Posted by Mihai : 7/16/2005 06:50:00 pm