Joint smokeless venture for PMI and Swedish Match

摘要

International has announced it will partner with Swedish Match to create a joint venture to commercialise Swedish snus and other smokeless tobacco products. The joint venture will focus on worldwide sales outside of Scandinavia and the USA.rnThe joint venture will be based in Stockholm and the board of directors will consist of six members, with three nominated by each company.rnEach company will own a 50% stake in the company and will license their respective trademarks and intellectual property to the joint venture. Other financial details were not disclosed.