Loews Corporation had owned 100 percent of Lorillard since 1969 when its
predecessor purchased the old P. Lorillard Company. In 2002 Loews issued a
tracking stock, Carolina Group (NYSE: CG), to track the financial performance
of certain assets and liabilities which primarily consisted of Loews'
ownership interest in Lorillard. Over time Loews sold approximately 62% of
Carolina Group shares to the public. In
"This is a great day for all Lorillard employees and shareowners, as
together we begin to write the next successful chapter of our history," said
Additional information concerning the separation of Lorillard from Loews, including a copy of the Form S-4 Registration Statement, is available at www.lorillard.com.
About Lorillard, Inc.
Lorillard, Inc. (NYSE: LO) is the third largest manufacturer of cigarettes
in
Forward-Looking Statement:
Certain statements made in this press release are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, or the Reform Act. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements, and may contain the words "expect", "intend", "plan", "anticipate", "estimate", "believe", "will be", "will continue", "will likely result", and similar expressions. In addition, any statement that may be provided by management concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible actions by Lorillard, Inc. are also forward-looking statements as defined by the Reform Act.
Forward-looking statements are based on current expectations and projections about future events and are inherently subject to a variety of risks and uncertainties, many of which are beyond the control of Lorillard, Inc., that could cause actual results to differ materially from those anticipated or projected. Information describing factors that could cause actual results to differ materially from those in forward-looking statements is available in Lorillard, Inc.'s filings with the Securities and Exchange Commission. These filings are available from the SEC over the Internet or in hard copy, and are, in some cases, available from Lorillard, Inc. as well. Forward-looking statements speak only as of the time they are made, and Lorillard, Inc. expressly disclaims any obligation or undertaking to update these statements to reflect any change in expectations or beliefs or any change in events, conditions or circumstances on which any forward-looking statement is based.
SOURCE Lorillard Inc.