BAT signs vapour collaboration with RJ Reynolds Tobacco Co
British American Tobacco has signed a vapour products technology-sharing agreement with RJ Reynolds Tobacco Company, which is a subsidiary of Reynolds American Inc.
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The agreement provides a framework for collaboration and mutual cross-licensing of the parties' vapour product technologies up to the end of 2022.
The collaboration also contemplates joint research and development activities and co-operation on regulatory, scientific and manufacturing issues relating to vapour products.
BAT’s managing director of Next Generation Products, Kingsley Wheaton, said: "This is an important milestone for BAT. This agreement should provide a strong platform to meet the demands of consumers today and in the future."
At 1325 GMT, British American Tobacco shares were down 0.2% to 3,861.50p.