RICHMOND, Va., Oct. 6, 2015 /PRNewswire/ -- George C.
Freeman, III, Chairman, President and Chief Executive Officer of
Universal Corporation (NYSE: UVV) ("Universal"), announced today
that the Company's subsidiary, Universal Leaf Tobacco Poland Sp. z
o.o. has entered into an agreement with Philip Morris Polska
Tobacco Sp. z o.o. ("PMP"), a subsidiary of Philip Morris
International Inc. ("PMI"), to process green leaf tobaccos procured
by PMP from their contracted grower base in Poland.
Previously, the processing of these tobaccos was handled directly
by PMP. The arrangement reinforces both PMI's and Universal's
strong, continuing commitment to Polish-grown leaf tobacco and the
grower communities.
Mr. Freeman stated, "We are pleased to be a part of this
undertaking with one of our longstanding global business
partners. The strength, efficiency, and security of the leaf
supply chain is vital to our success and to the success of our
customers, and thus, we are committed to the sustainability of our
grower communities. The supply chain in Poland will be enhanced for all stakeholders
through improved processing efficiencies."
The new arrangement was effective as of September 1, 2015, and processing of current crop
tobaccos is expected to continue through April 2016. Universal has maintained leaf
tobacco purchasing and processing operations in Poland since 1997.
Headquartered in Richmond,
Virginia, Universal Corporation is the leading global leaf
tobacco supplier and conducts business in more than 30
countries. Its revenues for the fiscal year ended
March 31, 2015, were $2.3 billion. For more information on Universal
Corporation, visit its website at www.universalcorp.com.
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SOURCE Universal Corporation