Memorandum

Memorandum #04: Tobacco Company List

Date: 01/10/2018
Referenced Sources: PERAC Website

PERAC Memo #04, 2018

To All Retirement Boards:

M E M O R A N D U M

TO: All Retirement Boards

FROM: Thomas J. O’Donnell, Compliance Officer

RE: Tobacco Company List

DATE: January 9, 2018

On October 22, 1997 PERAC Memo #37/1997 informed you of the adoption of Chapter 119 of the Acts of 1997. That statute prohibits retirement systems from making any new investments in stocks, securities, or other obligations of any company which derives more than 15% of its revenue from the sale of tobacco products. On December 18, 1997 PERAC sent Memo #48 regarding the implementation of Chapter 119 and the first Tobacco Company List.

Enclosed please find a Tobacco Company List dated January 2018. This list replaces any other Tobacco Company List previously sent to your board and is effective upon receipt by the retirement boards. Most of these companies appeared on previous lists and such investments were prohibited from the time the companies first appeared on the list. Please forward a copy to your investment advisors or inform them that this list is available on the PERAC Home Page in the 2018 Memos index under Forms & Publications. In communicating with your investment advisors, please inform them that the Tobacco Company List is only for their Massachusetts public fund clients and that any other use of the list is strictly prohibited.

As part of its audit process, PERAC will assess the portfolio of each board to determine compliance. That review will determine if the board, after January 13, 1998, has purchased stock, securities, or other obligations of any company which derives more than 15% of its revenue from the sale of tobacco products. In the event a portfolio is not in compliance, the board must bring the portfolio into compliance by divesting in a prudent manner. Prior to taking any action, the board shall consult with PERAC.

In applying the statute to pooled funds, PERAC will assess the 15% rule against the entire pool as the board is purchasing shares in the pool not the individual holdings of the pool. Thus a pooled fund, if in violation of this standard, will be included on the list.

If you have any questions, please contact this office.

 

Enclosure

 

TOBACCO COMPANY LIST

JANUARY 2018

COMPANY

COUNTRY

 

 

22nd Century Group, Inc.

United States

Alliance One International, Inc.

United States

Altria Group, Inc.

United States

AMCON Distributing Company

United States

American Heritage International Inc.

United States

Caesars Acquisition Company

United States

Core-Mark Holding Company, Inc.

United States

Electronic Cigarettes International Group, Ltd

United States

Gilla Inc.

United States

Healthier Choices Management Corp.

United States

Icon Vapor Inc.

United States

Medigreen Holdings Corporation

United States

Newgen Concepts Inc

United States

Philip Morris International Inc.

United States

Reynolds American Inc.

United States

Schweitzer Mauduit International, Inc.

United States

Smokefree Innotec Inc

United States

Turning Point Brands, Inc.

United States

Universal Corporation

United States

Vapor Hub International Inc.

United States

Vector Group Ltd.

United States

VPR Brands LP

United States

Wee-Cig International Corp

United States

 

British American Tobacco Bangladesh Co. Ltd.

Bangladesh

 

 

Fabrika Duhana Sarajevo dd Sarajevo

Bosnia & Herzegovina

 

 

Bulgartabac Holding AD

Bulgaria

Gotse Delchev Tabac AD

Bulgaria

Nicotiana BT Holding AD

Bulgaria

Shumen Tabac AD

Bulgaria

Slantse Stara Zagora Tabak AD

Bulgaria

Stara Planina Hold AD

Bulgaria

Yuri Gagarin AD

Bulgaria

 

 

George Weston Limited

Canada

 

 

Kimree Inc.

China

Mudanjiang Hengfeng Paper Co., Ltd.

China

Shenzhen Jinjia Group Co., Ltd.

China

Shiner International Inc

China

Xinjiang Bai Hua Cun Co., Ltd.

China

 

 

Valorem S.A.

Columbia

 

 

Hrvatski Duhani dd

Croatia

 

 

CTO PCL

Cyprus

 

 

Philip Morris CR as

Czech Republic

 

 

Scandinavian Tobacco Group A/S

Denmark

 

 

Eastern Co SAE

Egypt

 

 

Christian Dior S.E.

France

 

 

Karelia Tobacco Company Inc SA

Greece

 

 

Century City International Holdings Limited

Hong Kong

China Flavors and Fragrances Co Ltd.

Hong Kong

Huabao International Holdings Ltd.

Hong Kong

Sheen Tai Holdings Group Co. Ltd.

Hong Kong

 

 

Godfrey Phillips India Limited

India

Golden Tobacco Ltd.

India

ITC Limited

India

NTC Industries Ltd.

India

Sinnar Bidi Udyog Ltd

India

Virat Crane Industries Ltd

India

VST Industries Limited

India

 

 

Knafaim Holdings Ltd.

Israel

 

 

PT Bentoel Internasional Investama Tbk

Indonesia

PT Gudang Garam Tbk

Indonesia

PT Hanjaya Mandala Sampoerna Tbk

Indonesia

Wismilak Inti Makmur Tbk PT

Indonesia

 

 

Societe Ivoirienne des Tabacs SA

Ivory Coast

 

 

Carreras Ltd

Jamaica

 

 

ITOCHU Corporation

Japan

Japan Tobacco Inc.

Japan

 

 

Al-Eqbal Investment Company PSC

Jordan

Jordanian Duty Free Shops PSC

Jordan

Union Tobacco & Cigarette Industries Co PSC

Jordan

 

 

British American Tobacco Kenya Ltd

Kenya

 

 

Tutunski Kombinat AD Prilep

Macedonia

 

 

Press Corporation Ltd.

Malawi

 

 

7 Eleven Malaysia Holdings Bhd

Malaysia

Bright Packaging Industry Bhd

Malaysia

British American Tobacco (Malaysia) Berhad

Malaysia

 

 

Duvanski Kombinat ad Podgorica u stecaju

Montenegro

 

 

Schiphol Nederland B.V.

Netherlands

 

 

Khyber Tobacco Company Ltd.

Pakistan

Pakistan Tobacco Company Ltd.

Pakistan

Philip Morris (Pakistan) Limited

Pakistan

 

 

Jerusalem Cigarette Co Ltd

Palestinian Territory

 

 

LT Group, Inc.

Philippines

 

 

Kingdom Holding Company

Saudi Arabia

 

 

British American Tobacco Vranje ad Vranje

Serbia

Coka Duvanska Industrija ad Coka

Serbia

Duvanska industrija ad Bujanovac

Serbia

Philip Morris Operations a.d. Nis

Serbia

 

 

New Toyo International Holdings Ltd

Singapore

 

 

Hosken Consolidated Investments Limited

South Africa

 

 

KT&G Corporation

South Korea

Nongshim Holdings

South Korea

SK Chemicals Company, Ltd.

South Korea

 

 

Compania de Distribucion Integral Logista Holdings, S.A.

Spain

Miquel y Costas & Miquel, S.A.

Spain

 

 

Ceylon Tobacco Company PLC

Sri Lanka

 

 

Swedish Match AB

Sweden

 

 

Taisun Enterprise Co. Ltd.

Taiwan

Taiwan FamilyMart Co., Ltd.

Taiwan

Uni-President Enterprises Corp.

Taiwan

 

 

Tanzania Cigarette Company Ltd

Tanzania

 

 

The West Indian Tobacco Company Ltd.

Trinidad and Tobago

 

 

British American Tobacco Uganda

Uganda

 

 

Bizim Toptan Satis Magazalari AS

Turkey

 

 

Booker Group Plc

United Kingdom

British American Tobacco Plc

United Kingdom

Imperial Brands Plc

United Kingdom

 

 

Cat Loi JSC

Vietnam

Cong ty Co phan Ngan Son

Vietnam

 

 

British American Tobacco Zambia Plc

Zambia

 

 

British American Tobacco Zimbabwe (Holdings) Ltd

Zimbabwe

Commission Members

Philip Y Brown, Esq., Chairman
Auditor 
Suzanne M. Bump
Kathleen M. Fallon
Kate Fitzpatrick
James M. Machado
Robert B. McCarthy
Jennifer F. Sullivan

Downloads for #04: Tobacco Company List

Referenced Sources:

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