Tuesday 1 December 2015
BAT SIGNS VAPOUR COLLABORATION AGREEMENT
British American Tobacco (BAT) announces today that it has signed a vapour products technology-sharing agreement with R.J. Reynolds Tobacco Company (RJRTC), a subsidiary of Reynolds American Inc. The signing of the agreement comes following an announcement of a term sheet between the parties in September 2015.
The agreement provides a framework for collaboration and mutual cross-licensing of the parties' vapour product technologies up to 31 December 2022. The collaboration also contemplates joint R&D activities and co-operation on regulatory, scientific and manufacturing issues relating to vapour products.
Kingsley Wheaton, BAT's Managing Director of Next Generation Products, commented: "This is an important milestone for BAT. This agreement should provide a strong platform to meet the demands of consumers today and in the future."
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NOTES TO EDITORS
BAT is a global tobacco Group with brands sold in more than 200 markets. It employs more than 57,000 people worldwide and has over 200 brands in its portfolio, with its cigarettes chosen by one in eight of the world's one billion smokers. BAT has leadership in more than 60 markets around the world. The Group generated £5.4 billion adjusted profit from operations in 2014.
