From Pieter Sikkel, President,
CEO & Chairman, Pyxus International, Inc.
MORRISVILLE, N.C., Dec. 16, 2019 /CNW/ -- Pyxus International, Inc.
(NYSE: PYX), a global value-added agricultural company, today
issued the following statement regarding the announcement of a
trade agreement reached between the
United States and China:
"Pyxus applauds the initial trade agreement finalized by
the United States and China, and both governments for their
perseverance in reaching this consensus. The agreement is a welcome
first step to reopening China's
vast consumer market to U.S. agricultural products including
tobacco. While this compromise is only one piece of a much needed
comprehensive trade agreement and additional steps need to take
place to restart leaf exports, it is an encouraging move in the
right direction, helping to foster enhanced trade and promote
greater opportunities for success in the global economy.
"For 146 years we have been purchasing and promoting product
from U.S. farmers, and for more than 39 years, our company has
worked to build strong relationships in China. In the year preceding the trade
dispute, the U.S. exported $162
million worth of tobacco to China. Last year, that number decreased to
only $4 million. This agreement
should positively impact the U.S. agricultural industry and
American tobacco farmers, who have been hit hard by the ongoing
trade dispute.
"At Pyxus, we keep farmers at the heart of everything we do,
which is why this has been a key area of focus for us. We are
excited to build on the positive momentum and are hopeful that this
signifies sustainable progress in United
States-China relations and
greater economic opportunity for farmers."
About Pyxus International Inc.
Pyxus International Inc. (NYSE:PYX) is a global agricultural
company with more than 146 years' experience delivering value-added
products and services to businesses and customers. Driven by a
united purpose—to transform people's lives, so that together we can
grow a better world—Pyxus International, its subsidiaries and
affiliates, are trusted providers of responsibly sourced,
independently verified, sustainable and traceable products and
ingredients. For more information, visit www.pyxus.com.
View original
content:http://www.prnewswire.com/news-releases/statement-on-the-us-china-phase-one-trade-agreement-300975485.html
SOURCE Pyxus International, Inc.