Altadis

With 20,000 employees and activities in nearly 35 countries, Altadis is a multicultural, internationally-orientated Group, generating more than a third of sales from foreign markets. Underpinned by a solid financial position, Altadis is pursuing a growth strategy based on acquisitions and international expansion in order to reinforce its leadership position and create value for its shareholders and employees. Service d'Exploitation industrielle des tabacs (SEIT) is established as the government tobacco monopoly in France. Tabacalera, Sociedad Anonima, Compañia Gestora del Monopolio de Tabacos y Servicios Anejos is formed, and the Spanish government assumes control of the tobacco monopoly again. The European Economic Community (EEC) eases import strictures on cigarettes and other products among member states. SEITA loses monopoly on tobacco importation and distribution; warning labels are required on French cigarette packs; cigarette advertising is banned in France. Tabacalera is partially privatized when Spain joins the EEC. The company diversifies into food products. After diversifying too quickly, Tabacalera divests most of its food brands; by 1996 the company divests all of its non-tobacco, non-distribution operations. Seita and Tabacalera merge to form Altadis; the company buys a controlling stake in the Cuban cigar monopoly Corporación Habanos and becomes the world leader in cigar production. Altadis acquires Etinera, the former logistics division of the onetime Italian state tobacco monopoly. Source: International Directory of Company Histories , Vol.72. St. James Press, 2005.