MORRISVILLE, N.C., July 16, 2018 /PRNewswire/ --
Alliance One International, Inc. (NYSE: AOI) today announced that
it plans to seek shareholder approval to change its name to Pyxus
International, Inc., at the company's Annual Meeting of
Shareholders to be held on August 16,
2018.
On February 8, 2018, the company
announced an ambitious transformation plan, called "One Tomorrow,"
intended to drive future growth opportunities and reshape its brand
as the trusted provider of responsibly-produced,
independently-verified, sustainable, and traceable agricultural
products, ingredients and services. As part of its "One Tomorrow"
long-term business strategy, the company is actively pursuing new
business lines focused on agricultural products that are
value-added or require some degree of processing, with higher
margin and growth potential than its leaf tobacco business and that
play well to its strengths. The company has previously announced
several extensions into new business lines, namely e-liquids,
industrial hemp under a federal pilot program and legal cannabis in
Canada.
"Inspired by the Greek word for compass, the new name, Pyxus,
expresses our commitment to exploring new directions for the
benefit of our people, our products and the planet. We are a
145-year-old agricultural company that keeps the farmer at the
heart of everything we do, and we are pursuing a larger
purpose-driven vision with the goal of transforming people's lives
so that together we can grow a better world," said Pieter Sikkel, President and Chief Executive
Officer. "Pyxus International, Inc., reflects the Company's diverse
global operations and our intention to continue broadening our
business portfolio over the next three to four years by focusing on
consumer-driven agricultural products. The Alliance One name will
remain with the tobacco business to honor the legacy and history of
the brand, which includes its strong reputation for sustainable
farming, innovation and community partnership."
The company has filed a definitive proxy statement today with
the Securities and Exchange Commission that includes the proposal
to amend the company's Amended and Restated Articles of
Incorporation to change the company's name. Subject to receipt of
shareholder approval and upon the effectiveness of the change in
the company's corporate name, it also plans to change its NYSE
ticker symbol from "AOI" to "PYX" and will announce the date
trading under the new symbol will commence. Further detail on the
brand, structure and strategy will be discussed at the upcoming
Investor and Analyst Day on September 12,
2018, in New York City.
About Alliance One International, Inc.
Alliance One International (NYSE: AOI) is an agricultural
company that delivers value-added products and services to
businesses and customers, and is a trusted provider of
responsibly-sourced, independently-verified, sustainable and
traceable products and ingredients.
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SOURCE Alliance One International, Inc.
