Morocco's tobacco company to be privatized; $ 800 mln in sales

The Moroccan state-owned tobacco company has sold in 2001 a total of 14.2 billion cigarettes and posted sales of 8.89 billion DH (US$ 838.6 Mln), compared to 8,42 billion DH (US$ 794.3 Mln) in 2000.

The company says in its 2001 report its contribution to the state general budget increased by 6.3% to reach 6.33 billion DH (US$ 597 million).

The sale of locally-made cigarettes, representing 86% of the market, was worth 12.2 billion DH (US$ 1.15 billion), posting a 3% compared to the previous year.

Commenting the company's performance, general manager Larbi Bellaha said the company should carry on efforts to streamline its resources in the run-up to privatization which he described as an opportunity to speed up the company's competitiveness enhancement process.

With a capital of 600 million DH (US$ 56.6 million), the "Regie des Tabacs" manufactures 23 products in a plant of blond tobacco, three plants of brown tobacco and another factory of various products. It also operates a quality control lab, a factory of filters and a printing factory that produces almost all its needs in labels.