BRASCUBA extends joint venture agreement & plans to expand to Mariel Empowerment Zone
©SaulCimbler 2015. All Rights Reserved
Two decades of joint work have been enough to encourage BRASCUBA to stay in Cuba another 50 years. Created in 1995, with Brazilian capital, the company intends to extend its presence here, but in a new home.
The joint Cuban-Brazilian enterprise, which has to date been located in the Havana neighborhood of Luyanó, is among the first companies authorized to operate in the Mariel Special Development Zone.
BRASCUBA was one of the first joint ventures established after foreign investment in Cuba was approved, created by a merger with the Tobacco Enterprises Union (currently Tabacuba), a state company affiliated with the Ministry of Agriculture, which maintains the tradition of producing the world’s best cigars.
BRASCUBA has the option of selecting Cuban tobacco leaves or acquiring them from prestigious international growers, as is the case for other cigarette components, such as aluminum, paper and filters.
Attribution to Gramna, Dec 1 2015