Universal Corporation () is one of the world's leading tobacco merchants. Incorporated in 1886, Universal is headquarters in
Richmond, Virginia
(Thus do we reach the stars)
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, map_caption = Location within Virginia
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, pushpin_label = Richmond
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, in the
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., ...
.
Current operations
Universal buys, sells, and processes flue-cured and burley tobacco. It also holds a 49% interest in Socotab, LLC, a large dealer in oriental leaf tobaccos. The company does not manufacture cigarettes or other consumer tobacco products, although its largest customer is
Altria Group
Altria Group, Inc. (previously known as Philip Morris Companies, Inc.) is an American corporation and one of the world's largest producers and marketers of tobacco, cigarettes and related products. It operates worldwide and is headquartered in ...
(owner of
Philip Morris USA
Philip Morris USA is the American tobacco division of the American tobacco corporation Altria Group.
History Creation
The company's namesake Philip Morris was born in Whitechapel, United Kingdom in 1835, the son of a recent immigrant from G ...
).
Universal
common stock
Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States. They are known as equity shares or ordinary shares in the UK and other Comm ...
is part of the
S&P 600
The S&P SmallCap 600 Index (S&P 600) is a stock market index established by Standard & Poor's. It covers roughly the small-cap range of American stocks, using a capitalization-weighted index.
To be included in the index, a stock must have a total ...
index
Index (or its plural form indices) may refer to:
Arts, entertainment, and media Fictional entities
* Index (''A Certain Magical Index''), a character in the light novel series ''A Certain Magical Index''
* The Index, an item on a Halo megastru ...
.
History
After the 1911 breakup of the
American Tobacco Company
The American Tobacco Company was a tobacco company founded in 1890 by J. B. Duke through a merger between a number of U.S. tobacco manufacturers including Allen and Ginter and Goodwin & Company. The company was one of the original 12 members ...
trust, Jacquelin (sic) P. Taylor incorporated Universal out of six formerly independent leaf merchants.
In 2010, Universal along with Alliance One International were accused of violations of the
Foreign Corrupt Practices Act
The Foreign Corrupt Practices Act of 1977 (FCPA) (, ''et seq.'') is a United States federal law that prohibits U.S. citizens and entities from bribing foreign government officials to benefit their business interests.
The FCPA is applicable worl ...
of 1977. The company is alleged to have paid US$10,000 to the wife of an official in the Mozambique Ministry of Agriculture to secure favorable tax treatment in that country. In 2010, Universal paid about $10 million in restitution and penalties to settle the charges.
On January 3, 2020, Universal purchased FruitSmart.
References
External links
Company Home PageCompany History
Companies listed on the New York Stock Exchange
Tobacco companies of the United States
American companies established in 1886
Companies based in Richmond, Virginia
1918 establishments in Virginia
Agriculture companies established in 1918
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