Altadis Cigars Asia Pacific's Eric Piras says growth in the Asia Pacific has exceeded expectations with Hong Kong as the firm's regional office

Vice president for business development, Altadis Cigars Asia Pacific Ltd, Eric Piras, said the past two years have exceeded all the firm's expectations. "We are very pleased with the growth of our business in the region. Hong Kong is a window for China. With its growing wealth, the Chinese mainland is seen by tobacco firms as a prime target for their products in the long run."

With the SAR being a regional base for multinational firms, Mr Piras said Hong Kong is the right place to be in. "Hong Kong offers high quality staff and exemplary efficiency. There is also a sophisticated local market with people willing to try new things. Apart from all that, it is an excellent regional base when you need to travel."

He said he is pleased with his regional office with multicultural staff, who between them speak English, Cantonese, Putonghua and Japanese. "I have had the same people for five years."

The key thing about the SAR is its services. "If you want to do a videoconference you don't have to book it two months in advance, as in some places. You can do it in any hotel or business centre," added Mr Piras.

Altadis, the world's largest and oldest manufacturer of cigars, is listed on the Paris and Madrid bourses. It incorporates two European companies - Spain's Tabacalera and France's Seita. The world's oldest tobacco company, Tabacalera, was set up in 1636 by the Castillian Parliament, while Seita was founded in 1810, the year Napoleon brought back the tobacco monopoly first introduced by Louis IV. The two firms merged in 1999.

The following year Altadis paid US$500 million to buy a 50 per cent stake in Corporacion Habanos. The Cuban conglomerate is the manufacturer and worldwide distributor of all the island's cigars, universally acknowledged as the world's premium brands. Altadis also distributes cigars from the Dominican Republic and Honduras.

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