– Royal Agio Cigars, which is the fourth-largest sigarenproducent in the world, it is in Danish hands. Scandinavian Tobacco Group has reached an agreement in principle for the Dutch family-owned business to do so, it was announced Monday. As part of the Royal Agio Cigars is a cigar factory in the Van.
Royal Agio Cigars was founded in 1904, is among the more well-known of the brands, Agio, Balmoral, Panter and Mehari’s. The company reported last year a turnover of eur 133 million. It works worldwide and approximately 3,200 employees, of which more than 730 million cigars are produced. It has its own production facilities in the Netherlands, Belgium, Sri Lanka, and the Dominican Republic and its own sales organisations in the Benelux, France, Germany, hungary, Italy, and the United States of america.
The factory, located in Team was established in 2008. She was described as “the largest cigar factory in Europe”. At the establishment cigars, machine-made.
Scandinavian Tobacco Group will lay up to 210 million on the table in front of the Royal Agio Cigars. The parties expect the deal during the first half of the 2020 team. The acquisition is subject to approval by employee representative bodies and the authority.
Scandinavian Tobacco Group produces each year, about 3 billion cigars, and 5,000 tons of pipe and tobacco. The group has a workforce of around 7.650 workers, reported last year a turnover of only about 900 million euros and is listed on the Copenhagen stock exchange.
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a Premium, it is already four generations are in the hands of the family Wintermans. The sale was not an easy decision, says managing director, Boris Wintermans, in a press release. “We have to be responsible for the security of the share Premium account and our decision will, in the long term is inevitable,” he says. “The combination of these two businesses will be in a better position, the financial impact of ever-increasing rules and regulations to cope with.”
the Staff is worried:
for The nearly 300 employees of the factory are worried about their future, ” says Dexter, Molenberghs, president of the General federation of trade unions, Mechelen, Kempen. “Not far away from the Team in Lummen, has STP been an office. The company has established a reputation for being able to take over companies and then the sites are to join.”
for example, the factory in Lummen is a mix of, among others, the mills of Henri Wintermans Cigars, Yellow, and Leuven, belgium, and the Swedish Match factory in the village of Houthalen. In the STG Lummen, which is the only factory of the company, in our country, work with about 475 people.
on Tuesday, follows a formal works council in the next few days and weeks of trying, the trade unions, together with the board of directors of both the Premium as an STG. “The most important thing now is the price of clarity,” says Molenberghs.