Contraf-Nicotex-Tobacco (CNT) has become a shareholder in the UTC Group by founding UTC International in Wilson, North Carolina, USA.
The new company is the management holding for the U.S. operation and the Brazil operation of UTC Group.
The Brazil operation Tabacos Novo Horizonte (TNH) in Venancio Aires, Brazil will be renamed UTC – United Tobacco do Brasil (UTC Brazil).
“This is an important step for our group as this will significantly widen our leaf footprint into these two important leaf markets, the U.S. and Brazil,” said Dirk Siemann, managing director of CNT.
“It strengthens our leaf business and with our position as the leader in the global nicotine business we see ourselves well-positioned going forward.”
UTC International will be led by Hewitt Poland (managing director), Alastair Craik (operations director) and Joseph Howe (chief financial officer).
Jay Barker, the founder and chairman of the Brazilian operation, will step down from his positions in UTC Brazil.
“The development of this company is the culmination of all my knowledge and love of this industry,” said Barker.
“I now find that the best way to continue improving the company is to place the chairman role in the hands of the very capable Dirk Siemann of CNT.”
Barker will remain as an advisor to management. In addition to Chairman Siemann, the company’s management will include Erni Dockhorn (president) and Carlos Genehr (chief financial officer).
Steve Coyte will continue as CEO of the company’s U.S. operation.
UTC was formed in Wilson, NC in 1997. It provides storage and receiving services as well as being a leading supplier of U.S. flue cured and burley tobacco for 20 years.
CNT was formed in Heilbronn, Germany in 1982 and supplies the tobacco industry with leaf tobacco and nicotine.