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Imperial changed Tobacco to Brands

February 10th, 2016 00:00

Imperial Tobacco Group moved "tobacco" from its title and named itself Imperial Brands, which is more in line with its activity now.

Big cigarette companies have varied into cigarette variations as the people smoke less because of growing health awareness and control.

The maker of West cigarettes, in a statement, said the rename "better reflects the dynamic, brand-focused business that we are now".

Imperial Tobacco to Imperial Brands

The switch was approved by the British company's shareholders at their yearly common gathering earlier in February.

The change comes as authorities throughout the world forbid smoking and increasing number of people quit this habit.

Imperial's latest step away from tobacco happened this year when it obtained e-cigarette brand Blu from Reynolds American Inc.

Imperial's portfolio covers cigarettes, including Gauloises and Davidoff, the Tabacalarea cigar business, the Fontem Ventures e-cigarette business and the Logista logistics business. It assumed measures in the United States in 2015, investing $7 billion in brands such as Maverick, Salem and blu e-cigarettes.

Imperial said it will preserve its five corporate brands, which contain Imperial Tobacco and the U.S. unit ITG Brands.

Modifications will be mainly associated with the Bristol, England hq and corporate website, it said. The company's tobacco brands will still be split into mass-market "growth" products and more niche "specialist" brands.

Company's ticker on London Stock Exchange for its regular shares of 10 pence each will switch to IMB. This took effect from 8.00 a.m. Feb. 8 2016.

The Imperial Tobacco Company was created in 1901 when a group of British tobacco businesses joined, and in spite of its name, it purchased snack, packaging, and brewing businesses in the 1960s and 70s. In the course of the 1970s, the tobacco maker's parent company was named Imperial Group Ltd. to reveal its varied portfolio, which was later mostly sold off.

Marlboro manufacturer Philip Morris Cos. officially turned out to be Altria Group Inc. to range itself from the baggage of tobacco litigation and health concerns about ten years ago.