Universal Corp., a Richmond-based tobacco leaf supplier, said Monday that it plans to discontinue operations at one of its European tobacco processing plants.
The company said its subsidiary Universal Leaf Tobacco Hungary will immediately stop processing tobacco in its factory in Nyíregyháza, Hungary, in part because of declining demand for Hungarian-produced tobacco.
The company said it will concentrate the processing of Hungarian tobacco at its plants in Italy, which it expects will help improve supply-chain efficiency in the European market.
Universal conducts business in more than 30 countries and has tobacco processing and storage operations in the U.S. and multiple countries in Europe, Africa, South America and Asia.
