Tobacco company JTI Romania will cut its capital by 18.8 million lei to 73.91 million lei to offset losses, according to a decision made by its sole shareholder, JT International Holding BV and published in the Official Gazette.
JTI – Japan Tobacco International a tobacco companies held by Japan Tobacco, the third largest manufacturer in the tobacco industry with 11% market share worldwide and a market cap of around $32 billion.
The group was established in 1999 when Japan Tobacco Inc. acquired the international businesses of R.J Reynolds for $8 billion.
JTI employs 23,000 in 80 branches and 30 factories and R&D centers across the globe. JTI brands are sold in over 120 countries.
A week ago, JTI Romania announced its decision to cut 169 jobs in JT International (Romania) SRL, a measure that will affect 128 workers, the remaining 41 jobs were already vacant.
Article comments "JTI Romania cuts capital by 18.8 million lei to offset losses"
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