JTI: We're less exposed to the crisis

Pierre de Labouchere (photo), CEO of Japan Tobacco International, the world’s third tobacco producer, with 8bn dollar turnover last year, has returned to Romania after 14 years and says he will continue investments domestically and create a business centre on the basis of which Romania will provide management for another two countries – Croatia and Bulgaria. “We’ve started using the plant in Romania as an export source for other countries. (…) For the next two or three years, we have investment plans to boost the capacity of the plant we own in Romania and the quality of equipment,” said Labouchere, chairman and CEO of JTI. JTI is one of the first foreign investors in Romania, having arrived here in 1993 under the former Reynolds Tobacco name. Last year, JTI Manufacturing Romania generated 311m-euro turnover, on top of which is added another 44m euros reported by Gallaher, a company acquired internationally. The company continued expanding in the first half of 2008, reporting turnover increase of over 50%, to 222m euros (816.9m RON). According to Labouchere, the company has not been hurt by the global crisis so far. “We’re not immune to the financial crisis, but we’re less exposed than other consumer goods (…) We will make no drastic decisions in the wake of a possible impact, but we’ll pursue long-term growth,” said Labouchere.