Bulgartabac Halts Exports to the Middle East and Cut 400 Jobs

Bulgartabac Holding AD (Bulgartabak AD) is a Bulgaria-based holding company that is active in the tobacco industry. It specializes in the managing and financing of companies, engaged in the tobacco buying and processing, tobacco leaf trading, as well as the production, storage and export of cigarettes. The Holding processes tobacco of Oriental, Virginia and Burley types. Its product portfolio covers cigarette brands such as Victory, Eva Slims, Class S, Femina Slim, GD, Global, Prestige and others. It exports Oriental tobacco to markets in the Russian Federation, North America, Europe and the Middle East. In addition, it renders agro-technical services to the tobacco farmers and publishes the magazine Bulgarski tyutyun (Bulgarian Tobacco). The Holding operates two tobacco processing plants and nine subsidiaries, located domestically and abroad. As of December 31, 2012, the Company’s major shareholder was BT Invest GmbH Austria with a stake of 79.83%.