PERAC Memo #20 - 2021: Tobacco Company List
Tobacco Company List
View original on mass.gov →Summary
Transmits the Q3 2021 (July 2021) Tobacco Company List, updating the roster of companies prohibited from new investment under Chapter 119 of the Acts of 1997 (15% tobacco revenue threshold). Supersedes all prior lists and is effective upon receipt by retirement boards.
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Memorandum Memorandum #20: Tobacco Company List Date: 06/30/2021 Referenced Sources: PERAC Website PERAC Memo #20, 2021
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TO: All Retirement Boards
FROM: Thomas J. O’Donnell, Compliance Director
RE: Tobacco Company List
DATE: June 30, 2021
On October 22, 1997, PERAC Memo #37/1997 informed you of the adoption of Chapter 119 of the Acts of 1997. That statute prohibits retirement systems from making any new investments in stocks, securities, or other obligations of any company which derives more than 15% of its revenue from the sale of tobacco products. On December 18, 1997, PERAC sent Memo #48 regarding the implementation of Chapter 119 and the first Tobacco Company List.
Enclosed please find a Tobacco Company List dated July 2021. This list replaces any other Tobacco Company List previously sent to your board and is effective upon receipt by the retirement boards. Most of these companies appeared on previous lists and such investments were prohibited from the time the companies first appeared on the list. Please forward a copy to your investment advisors or inform them that this list is available on the PERAC website. In communicating with your investment advisors, please inform them that the Tobacco Company List is only for their Massachusetts public fund clients and that any other use of the list is strictly prohibited.
As part of its audit process, PERAC will assess the portfolio of each board to determine compliance. That review will determine if the board, after January 13, 1998, has purchased stock, securities, or other obligations of any company which derives more than 15% of its revenue from the sale of tobacco products. In the event a portfolio is not in compliance, the board must bring the portfolio into compliance by divesting in a prudent manner. Prior to taking any action, the board shall consult with PERAC.
In applying the statute to pooled funds, PERAC will assess the 15% rule against the entire pool as the board is purchasing shares in the pool not the individual holdings of the pool. Thus a pooled fund, if in violation of this standard, will be included on the list.
If you have any questions, please contact this office.
TOBACCO COMPANY LIST JULY 2021 COMPANY COUNTRY
22nd Century Group, Inc.
United States
A1 Group Inc
United States
Altria Group, Inc.
United States
AMCON Distributing Company
United States
B.A.T. Capital Corporation
United States
Core-Mark Holding Company, Inc.
United States
Fyolo Technology Corp
United States
Gilla Inc.
United States
Healthier Choices Management Corp.
United States
Old Holdco, Inc.
United States
Performance Food Group Company
United States
Philip Morris International Inc.
United States
Reynolds American Inc.
United States
Schweitzer Mauduit International, Inc.
United States
Smokefree Innotec Inc
United States
Turning Point Brands, Inc.
United States
Universal Corporation
United States
Vapor Group Inc
United States
Vapor Hub International Inc.
United States
Vector Group Ltd.
United States
VPR Brands LP
United States
Wee-Cig International Corp
United States
British American Tobacco Bangladesh Co. Ltd.
Bangladesh
Badeco Adria d.d. Sarajevo
Bosnia & Herzegovina
Bulgartabac Holding AD
Bulgaria
Gotse Delchev Tabac AD
Bulgaria
Nicotiana BT Holding AD
Bulgaria
Shumen Tabac AD
Bulgaria
Sila Holding Plc
Bulgaria
Slantse Stara Zagora Tabak AD
Bulgaria
Yuri Gagarin AD
Bulgaria
Anhui Genuine New Materials Co Ltd
China
Huabao Flavours & Fragrances Co Ltd
China
Mudanjiang Hengfeng Paper Co., Ltd.
China
RLX Technology Inc
China
Shenzhen Jinjia Group Co., Ltd.
China
Smoore International Holdings Ltd
China
COMPANY COUNTRY
CTO Public Company Ltd.
Cyprus
Philip Morris CR as
Czech Republic
Scandinavian Tobacco Group A/S
Denmark
STG Global Finance B.V.
Denmark
Eastern Company SAE
Egypt
Karelia Tobacco Company Inc SA
Greece
China Boton Group Company Limited
Hong Kong
China Tobacco International HK Co Ltd
Hong Kong
Ecogreen International Group Limited
Hong Kong
Huabao International Holdings Ltd.
Hong Kong
Sheen Tai Holdings Group Company Limited
Hong Kong
Godfrey Phillips India Limited
India
Golden Tobacco Ltd.
India
ITC Limited
India
NTC Industries Ltd.
India
Sinnar Bidi Udyog Ltd.
India
VST Industries Limited
India
Indonesian Tobacco Tbk PT
Indonesia
PT Bentoel International Investama Tbk
Indonesia
PT Gudang Garam Tbk
Indonesia
PT Hanjaya Mandala Sampoerna Tbk
Indonesia
PT Wicaksana Overseas International Tbk
Indonesia
Wismilak Inti Makmur Tbk PT
Indonesia
Globrands Group Ltd.
Israel
Societe Ivoirienne des Tabacs SA
Ivory Coast
Carreras Ltd.
Jamaica
Japan Tobacco Inc.
Japan
Al-Eqbal Investment Company PLC
Jordan
Jordanian Duty Free Shops PSC
Jordan
Union Investment Corporation P.L.C.
Jordan
Union Tobacco & Cigarette Industries Co PSC
Jordan
British American Tobacco Kenya PLC
Kenya
COMPANY COUNTRY
KT&G Corporation
Korea
Kuk-Il Paper Mfg Co., Ltd.
Korea
Tutunski Kombinat AD Prilep
Macedonia
7-Eleven Malaysia Holdings Berhad
Malaysia
Bright Packaging Industry Bhd
Malaysia
British American Tobacco (Malaysia) Berhad
Malaysia
B.A.T. Netherlands Finance B.V.
Netherlands
JT International Financial Services B.V.
Netherlands
Khyber Tobacco Company Ltd.
Pakistan
Pakistan Tobacco Company Ltd.
Pakistan
Philip Morris (Pakistan) Limited
Pakistan
Tri Pack Films Ltd.
Pakistan
Jerusalem Cigarette Co Ltd.
Palestinian Territory
Eurocash Spolka Akcyjna
Poland
Coka Duvanska Industrija ad Coka
Serbia
Duvanska industrija ad Bujanovac
Serbia
Philip Morris Operations a.d. Nis
Serbia
New Toyo International Holdings Ltd.
Singapore
Compania de Distribucion Integral Logista Holdings, S.A.
Spain
Miquel y Costas & Miquel, S.A.
Spain
Ceylon Tobacco Company Plc
Sri Lanka
Nolato Aktiebolag
Sweden
Swedish Match AB
Sweden
Taiwan FamilyMart Co., Ltd.
Taiwan
Tanzania Cigarette Company Ltd.
Tanzania
The West Indian Tobacco Company Ltd.
Trinidad and Tobago
Bizim Toptan Satis Magazalari AS
Turkey
British American Tobacco Uganda
Uganda
COMPANY COUNTRY
B.A.T. International Finance P.L.C.
United Kingdom
British American Tobacco Plc
United Kingdom
Essentra Plc
United Kingdom
Imperial Brands Finance Plc
United Kingdom
Imperial Brands Plc
United Kingdom
McColl’s Retail Group Plc
United Kingdom
Cat Loi JSC
Vietnam
Cong ty Co phan Ngan Son
Vietnam
British American Tobacco Zambia Plc
Zambia
British American Tobacco Zimbabwe (Holdings) Ltd.
Zimbabwe