MORRISVILLE, N.C., Sept. 29, 2014 /PRNewswire/ -- Alliance One International, Inc. (NYSE: AOI) today announced its intention to enter the Ugandan Tobacco Leaf Market once all relevant governmental approvals and licenses including registration of its new Ugandan subsidiary, Alliance One Tobacco (Uganda) Limited ("AOU") are complete.
AOU's core business plans to include providing agronomy services to tobacco growers through an Integrated Production System ("IPS") that supports sustainable compliant tobacco leaf production. To execute on its plan, AOU expects to employ agronomy and support staff in Uganda, drawing from local talent to develop a dedicated country team. To meet first year production goals, AOU intends to register and sponsor farmers that produce both flue cured and burley tobaccos for the upcoming 2015 crop.
Pieter Sikkel, Alliance One's President and Chief Executive Officer, stated, "Once complete, the addition of Uganda to our existing African footprint, further strengthens our regional position as a leading supplier to both new and existing customers. Ugandan tobaccos have a good range of quality flavor and semi flavor styles that complement tobaccos from our other supply origins. We are excited about the heightened prospects for Ugandan tobacco on the world market."
Alliance One International is a leading global independent leaf merchant. For more information on Alliance One, visit the Company's website at www.aointl.com.
This press release contains forward-looking statements. Actual results may differ materially from those reflected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained under the heading of "Risk Factors" listed from time to time in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K.
SOURCE Alliance One International, Inc.