SECRET
BAT INDUSTRIES
Windsor House 50 Victoria Street London SWIH ONL Telephone 01-222 7979
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From the Chairman 15th February 1989
To: Mr. E.A. A. Bruell
c.c. Mr. D.P. Carraway
Mr. A. C. Long
Dr. R. Salter
Mr. N.G. Brookes
Imsco Strategy Reviews 1989
I an writing to confirm with you the strategic issues which it was agreed
Imasco should review and which it would be helpful for then to discuss with
the CPC during 1989. The main issues are:-
(1) the need for further strengthening of Imasco's balance sheet,
particularly through a continued reduction of debt;
(U) the future of the remaining Peoples stores, including the
possibility of their divestment;
(III) the need to improve lung co I 5 participation In the strategic
direction and development of Canada Trust and. In particular, the need to
contain costs, Improve organic growth and develop plans for extending the
Group's Financial Services activities in Canada;
In addition, the CPC would also like to be kept informed of the
implications for the Tobacco business of the FTA and the To Products
Control Act and of action proposed to ameliorate any adverse effects arising
from these Act&.
Please let me know when Imanco will be in a position to review these
issues with the CFC-
P. Sheehy C)
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BAT Industries document for Province of British Columbia 13 April 1999