R. J. Reynolds Industries plans to change its name.
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Reynolds board will seek shareholder approval to change the company’s name to RJR Nabisco at its April 23 annual meeting. Company officials said the name change was proposed because of the impact of last year’s $4.9-billion acquisition of Nabisco Brands. At the end of 1985, Reynolds’ food and beverage sales amounted to $8.5 billion while tobacco sales were $8.1 billion. “It’s the first time it’s happened in company history that non-tobacco sales exceeded tobacco sales,” Reynolds spokeswoman Maura Payne said.
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