Senate Tobacco Quota Buyout/FDA Legislation Would Hurt Growers, Industry
July 15 2004 - 4:25PM
PR Newswire (US)
Senate Tobacco Quota Buyout/FDA Legislation Would Hurt Growers,
Industry WINSTON-SALEM, N.C., July 15 /PRNewswire-FirstCall/ --
R.J. Reynolds Tobacco Co. today reiterated its vigorous opposition
to the Kennedy/McConnell tobacco quota buyout/FDA amendment debated
by the U.S. Senate. Tommy Payne, executive vice president of
external relations, said, "The Kennedy/McConnell amendment is
ill-conceived, imperils the viability of a tobacco quota buyout and
creates an overwhelming competitive advantage for Philip Morris
that is unprecedented in the modern history of Congressional
action. "This amendment fails to make U.S. tobacco farmers more
competitive and would be financially disastrous for tobacco
manufacturers, their employees, their business partners and adult
smokers, many of whom are lower- and middle- income wage earners,"
Payne added. "If Congress is serious about giving tobacco growers
financial relief, it will adopt the House version of the tobacco
quota buyout bill," Payne said. R.J. Reynolds Tobacco Company
(RJRT) is a wholly owned subsidiary of R.J. Reynolds Tobacco
Holdings, Inc. (NYSE:RJR). R.J. Reynolds Tobacco Company is the
second-largest tobacco company in the United States, manufacturing
about one of every four cigarettes sold in the United States.
Reynolds Tobacco's product line includes four of the nation's 10
best-selling cigarette brands: Camel, Winston, Salem and Doral. For
more information about RJRT, visit the company's Web site at
http://www.rjrt.com/ . DATASOURCE: R.J. Reynolds Tobacco Company
CONTACT: John Singleton, +1-336-741-4616, or David Howard,
+1-336-741-3489, both of R.J. Reynolds Tobacco Company Web site:
http://www.rjrt.com/
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