BAT signs vapour collaboration agreement

British American Tobacco announces today that it has signed a vapour products technology-sharing agreement with R.J. Reynolds Tobacco Company (RJRTC), a subsidiary of Reynolds American Inc. The signing of the agreement comes following an announcement of a term sheet between the parties in September 2015.

The agreement provides a framework for collaboration and mutual cross-licensing of the parties' vapour product technologies up to 31 December 2022. The collaboration also contemplates joint R&D activities and co-operation on regulatory, scientific and manufacturing issues relating to vapour products.

Kingsley Wheaton, BAT's Managing Director of Next Generation Products, commented: "This is an important milestone for BAT. This agreement should provide a strong platform to meet the demands of consumers today and in the future."