MORRISVILLE, N.C.
,
Nov. 7, 2018
/PRNewswire/ --
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.
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SOURCE
Alliance One International