WINSTON-SALEM, N.C. — R.J. Reynolds Tobacco Co. (RJR), an indirect subsidiary of Reynolds American Inc. (RAI), announced today that it has signed a vapor product technologies-sharing “term sheet” with British American Tobacco Holdings Ltd. (BAT).
The companies have not finalized the specifics of the deal, but it is the first step in reaching a definitive agreement.
The term sheet provides a framework for collaboration and mutual cross-licensing of vapor product technologies through 2022.
The companies’ collaboration will include a process for joint research and development activities and cooperation on regulatory, scientific and manufacturing issues related to vapor products.
Winston-Salem, N.C.-based RJR, an indirect subsidiary of RAI, is the second-largest tobacco company in the United States. RJR’s cigarette brands include Newport, Camel and Pall Mall. These brands, and its other brands, including Doral, Misty and Capri, are manufactured in a variety of styles and marketed in the United States.
Based in London, BAT is a global tobacco group with more than 200 brands sold in more than 200 markets.
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