History
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History

1970/1979

Decade the 70s

Decade the 70s

The investment portfolio diversifies
In partnership with Kimberly Clark Corporation, Coltabaco Colombiana S.A. creates Colkim, with the initial goal of making cigarette paper; then extends its corporate purpose to include the manufacture, sale and export of paper, especially disposable hygienic, sanitary products for domestic use and fine papers.

In this decade, Coltabaco participates in creating Promotora de Hoteles Medellín S.A. (Medellin Hotels Promoter), which undertakes the construction and equipping of the Hotel Intercontinental Medellin.

In 1972, acquired a significant stake in Colombian Universal Papers, Colpapel, having as partner Kimberly Clark Co., which later (in the 90s), would merge with Colombiana Kimberly, to create Colombiana Kimberly Colpapel SA.

Likewise, in the early 70s, Coltabaco participates in the constitution of Conavi (Corporacion de Ahorro y Vivienda) Savings and Housing Corporation.

1980/1989

Decade the 80s

Decade the 80s

The world looks at the tobacco industry

The tobacco industry starts receiving a strong siege by not only healthcare organizations in the world, but from the same consumers, through lawsuits for health damage.

In this decade, the company received the National Quality Award, given by the government of President Belisario Betancur. It also launched the building and equipping project of the Hotel Las Lomas in Rionegro, Antioquia.

1990/1999

Decade of 90s

Decade of 90s

The investment portfolio gets consolidated

The business of manufacturing and selling cigarettes is focused worldwide in a few multinational companies such as British American Tobacco, Philip Morris and Reynolds Tobacco Ceita.

As a consequence of this, Coltabaco recieved persistent claims from Philip Morris and BAT with the intentions to acquire its control.

In this decade, Coltabaco invests in the development of operations in the Andean region, through Colombiana Kimberly and Colpapel. This way begins operations in Venezuela (1991), Ecuador (1992), Perú (1994) and Bolivia (1995), initially distributing products made in Colombia; then, with the acquisition of local businesses, deals with the distribution and manufacturing in those countries.

2001

Colinversiones: the birth of a transformation process

Colinversiones: the birth of a transformation process

At an Extraordinary Shareholders' Meeting held in June 2001, the decision to split the company's industrial investments and activities is taken unanimously, to originate the birth of Colinversiones S.A. On October 8th, 2001, the division in which Coltabaco transferred 70% of its assets to the new company is formalized.

When Coltabaco's assets were divided, to each of the 6,589 shareholders of this company, were delivered Colinversiones shares in proportion of one to one, so that those who were Coltabaco's shareholders remained being Colinversiones shareholders in the same proportion and number.

The management of the relationships with shareholders and general management, for both companies, were in charge of Coltabaco until 2005, when the sale of control of the tobacco company Philip Morris is produced.

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