Lorillard

  • 1760: Founded in 1760, Lorillard is the oldest continuously operating U.S. tobacco company.
  • 1929: Lorillard opened its first one-room research laboratory in Middletown, Ohio.
  • Dec. 24, 1952: P. Lorillard Company announced that the company would build "the most modern cigarette plant in the world" in Greensboro. Lorillard had acquiredapproximately80 acres from trustees of A&T State University.
  • June 23, 1954: William J. Halley, president of Lorillard, turned the first spadeful of dirt at the groundbreaking ceremonies.
  • Oct 17, 1956: Lorillard formally opened its $13 million Greensboro plant. The cigarette making and packing floor covered 141,670 square feet or about 3.5 acres. The total square footage of the entire plant under roof equaled 13 acres.
  • 1956: The plant employed 600 and produced about 100 million cigarettes per shift. The 400-seat cafeteria for employees served sirloin roast for 40 cents and fried chicken for 45 cents, included 2 vegetables and a roll with butter , and coffee or tea. Ice cream was 10 cents extra.
  • Oct. 1969: A new $3 million Research Center and Pilot Plant opened in Greensboro. It was equipped for scientific tobacco research and product development.
  • Oct. 1971: Construction was begun on a new Tobacco Processing Plant. Construction was completed in August 1972.
  • Oct. 1978: A Receiving and Storage Warehouse expansion was completed.
  • July 1980: A second expansion was completed for Hogshead Storage.
  • Dec. 1980: Construction of the 156,000 sq-ft. Southeast expansion was completed. The Greensboro Plan totaled 942,000 square feet.
  • 1981: Lorillard employed 2,600.
  • 1998: Tobacco companies settled a lawsuit with state attorneys general over industry's marketing practices. In addition to limiting how they can advertise, the settlement prohibits tobacco companies from debating the health effects of cigarette smoke.
  • 2002: Loews Corp. created Carolina Group, a tracking stock, to reflect the value of its tobacco holdings.
  • 2004: Congress ended the tobacco quota system.
  • 2006: U.S. Surgeon General issued a report saying there was no safe level of secondhand smoke, and that workplaces and other public spaces should be smoke-free.
  • 2007: Loews sold holdings in Carolina Group. Lorillard's share price indicated value of $15 billion.
  • 2008: Lorillard made $887 million in profits for the year.
  • Apr. 2009: N.C. passed a smoking ban in restaurants, bars and almost all workplaces. A fifth of the nation smoked, down from 40 percent in the early 1970s.
  • Sept. 13, 2010: Former Altria executive, Murray Kessler replaced CEO Martin Orlowsky.
  • Apr. 2012: Lorillard acquired blu e-cigs, an electronic cigarette company.
  • 2012: 40.2 billion cigarettes shipped, net sales of $.6. billion and net income of $1.1 billion.
  • Mar. 3, 2014: The Financial Times reported that Reynolds American might buy Lorillard for $18 billion to $22 billion. Lorillard employs 2,900, 1,800 in Greensboro. Lorillard is Greensboro's biggest property owner with land valued at $300.7 million.
  • July 15, 2014:Reynolds Tobacco agreed to acquire Lorillard in a cash-and-stock transaction currently valued at $68.88 per Lorillard share, or a total of $27.4 billion.
  • July 30, 2014: Lorillard reported $300 million in net income compared with $313 million a year ago, a 4.2 percent decrease in the second quarter. The decline was attributed to a decline in e-cig sales.
  • Aug 8,2014:Dr. Robert Corwin, trustee for the Beatrice Corwin Living Irrevocable Trust filed a lawsuit in Guilford County Superior Court seeking to block the Reynolds American purchase of Lorillard Inc.
  • Sept. 3, 2014: Two Lorillard subsidiaries (Cygnet and Lorillard Technologies Inc.) filed law suits in London to restrain Zippo Manufacturing Co. from threatening Lorillard and others for alleged infringements of Zippo's trademarks.
  • Sept. 2014: A Florida appeals court threw out about 750 Engle cases.
  • Jan. 28, 2015:Lorillard tobacco shareholders overwhelmingly approved Reynolds American's offer to buy the company for $27.4 billion at a special shareholders meeting.
  • Feb. 25, 2015: $100 million settlement reached between R.J. Reynolds Tobacco Co., Philip Morris, Lorillard Tobacco and hundreds of people who sued for smoking-related deaths and illnesses in Florida federal court.
  • May 2015: The Federal Trade Commission approved merger between Lorillard and Reynolds American.
  • June 8: 2015: A federal district court approved the Reynolds American acquisition of Lorillard Inc.
  • June 12, 2015: Reynolds American announced the completion of the $27.4 billion acquisition of Lorriard and the spinoff of several brands to Imperial Tobacco Group's ITG Brands. ITG headquarters will be in Greensboro and most of Lorillard's 2,900 workers will have jobs at ITG or Reynolds.
  • Dec. 15, 2015: Imperial Tobacco Group announced that it is dropping the word tobacco from its name. The new name will be Imperial Brands.
  • Feb. 17, 2016: ITG announced employee lay-offs this summer.
  • Mar. 18, 2016:ITG Brands laid off 20 salaried employees in Greensboro.
  • Apr. 22, 2016: ITG announced that 375 employees at ITG Brands' plant will lose their jobs in June as the company's manufacturing agreement with Winston-Salem's Reynolds American comes to an end.

WHAT HAPPENED WITH THE MERGER
  • Reynolds American completes its $27.4 billion acquisition of Lorillard June 12, 2015.
  • ITG Brands, a subsidiary of U.K.-based Imperial Tobacco Group, will buy four Reynolds brands and Lorillard’s manufacturing plants for $7.1 billion. The brands acquired are Winston, Kool, Salem and Maverick.
  • Lorillard officials told The Wall Street Journal that nearly all of the company’s 2,900 workers will have jobs at Reynolds or ITG.
  • Quorvo, a company born from a merger of Greensboro’s RF Micro Devices and a Hillsboro, Ore., company, will replace Lorillard’s listing on the S&P 500 index.

Sources: Winston-Salem Journal Archive; News & Record Archive; The Lorillard Informer (May/June 1981); Triad Business Journal

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