International Business Times Says Companies Cashing in on Cannabis Market to grow to over $9 billion within 24 months
CORONA, Calif., Feb. 24, 2014 /PRNewswire/ -- AVT, Inc. (OTC Markets: AVTC) (www.autoretail.com), a leader in custom vending machines and automated retail stores stated that they are well positioned as the legal marijuana and electronic cigarette markets continue to make significant gains.
A recent article in International Business Times stated that the value of medical marijuana alone would grow from $1.7 billion to about $9 billion by 2016. This number does not include states where the substance is legal for personal use – currently Washington and Colorado, with others pending legislation.
While AVT was not specifically mentioned in the article, it is pertinent to note that some of the fastest growing companies in the world are now involved in supplying products or services to the legal marijuana and e-cigarette industries.
AVT provides market leader Medbox with their secure storage and retrieval systems, which vastly improves security, transparency and compliance within the marijuana industry.
AVT also produces automated systems for the dispensing of e-cigarettes – the fastest growing segment in the $100 billion U.S. tobacco market.
According to The Economist, "Sales in e-cigarettes have jumped from nearly nothing five years ago to at least $1 billion in 2013."
This trend will continue to grow as the major tobacco companies are now getting involved. According to the Wall Street Journal, Reynolds American - the nation's number 2 leading tobacco company and maker of Camel cigarettes, and Lorillard - the nation's 3rd largest tobacco company and maker of Newport cigarettes, have both launched e-cigarette brands and are planning for national expansion within this year.
"AVT has a record of continued success due in part to our ability to predict and recognize trends, and develop systems and technologies that capitalize on those waves," said James Winsor, CEO of AVT, Inc. "We are at the heart of the automated retailing boom, with innovative solutions that give companies the means to distribute to their customers in new and exciting ways."
For more information on AVT, contact the company at (877) 424-3663, or visit the website at: www.autoretail.com.
Read the International Business Times article at: http://email@example.com&utm_medium=Feb_21_2014_0401_190964&utm_source=TailoredMail&utm_term=Seeing+Green+In+Legal+Weed&utm_campaign=Feb_21_2014_0401
Read the Wall Street Journal article at: http://blogs.wsj.com/corporate-intelligence/2013/11/18/big-tobacco-begins-its-takeover-of-the-e-cigarette-market/
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SOURCE AVT, Inc.