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Pedro Perez—Former President, Tabacalera

A talk with the man behind Tabacalera, Spain's $7 billion tobacco company.
Marvin R. Shanken
From the Print Edition:
Tom Selleck, Winter 95/96

(continued from page 16)

Perez: Roughly $25 million.

CA: Does that mean it's rolled over?

Perez: Yes. It's a sort of a pre-financing mechanism.

CA: So you put up $25 million, then you buy and they deliver your cigars; they deduct the $25 million, you pay them the difference. You are like a bank. And next year, same thing happens. And I assume each year as their production goes up, your loan goes up?

Perez: Yes, For instance, the plan for this year was, in cigars, 28 million cigars.

CA: Of that 28,500 acres, does that cover just tobacco for cigars or for bulk tobacco, too?

Perez: Everything.

CA: Everything. What percentage of that would have been for cigars?

Perez: You have to take into account how land is used for tobacco production. You have a number of acres which have traditionally been used for growing wrapper.

CA: In dollar value, of the $25 million, how much would go towards cigars, versus how much would go for leaf?

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