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British American Tobacco inks vape tie-up with Reynolds

“This agreement should provide a strong platform to meet the demands of consumers today and in the future."
British American Tobacco inks vape tie-up with Reynolds
They will jointly develop new 'vape' technologies

British American Tobacco (LON:BATS) has told investors that it has signed a technology-sharing agreement for vapour and electronic cigarette devices.

The deal with Reynolds American Inc sets out a framework for collaboration and mutual cross-licensing up until the end of 2022.

It contemplates joint research and development activities and co-operation.

"This is an important milestone for BAT,” Kingsley Wheaton, managing director of BAT’s next generation products.

“This agreement should provide a strong platform to meet the demands of consumers today and in the future."

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February 25 2016
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