Cuban cigar maker eyes gain in US market

Havana - Cuban cigar-maker Habanos SA envisions gaining 25% to 30% of the US premium cigar market if the United States lifts its trade embargo on Cuba, potentially selling 70 million to 90 million cigars per year, the company said on Monday.

Habanos SA, a 50-50 joint venture between the Cuban state and Imperial Tobacco Group, generated sales of $439m in 2014 without direct access to the U.S. market. The company is also the monopoly guarantor of Cuba's signature export.

The prospect of the United States lifting its 53-year-old embargo improved after the United States and Cuba announced on December 17 their intention to restore diplomatic relations.