Phillip Morris Analysis
Introduction (Reuters)
Philip Morris International Inc. (PMI), incorporated in 1987, is engaged in the manufacture and sale of cigarettes and other tobacco products through its subsidiaries and affiliates. Its products are sold in approximately 160 countries. PMI’s portfolio comprises both international and local brands. Its portfolio comprises both international and local brands, which include Marlboro, Merit, Parliament, Virginia Slims, L&M, Chesterfield, Bond Street, Lark, Muratti, Next, Philip Morris and Red & White. PMI divides its markets into four geographic regions: The European Union (EU); The Eastern Europe, Middle East and Africa (EEMA); The Asia Region, and The Latin America and Canada Region. In February 2009, the Company purchased the Petteroes tobacco business, which includes fine-cut trademarks primarily sold in Norway and Sweden. In September 2009, PMI acquired Swedish Match South Africa (Proprietary) Limited.
Separation from Altria Group, Inc.
Prior to March 28, 2008, PMI was a wholly−owned subsidiary of Altria Group, Inc. (“Altria”). On January 30, 2008, the Altria Board of Directors announced Altria’s plans to spin off all of its interest in PMI to Altria’s stockholders in a tax−free transaction pursuant to Section 355 of the U.S. Internal Revenue Code. The distribution of all of our shares owned by Altria (the “Spin−off”), was made on March 28, 2008 (the “Distribution Date”), to stockholders of record as of the close of business on March 19, 2008 (the “Record Date”). Altria distributed one share of our common stock for each share of Altria common stock outstanding on the Record Date.
Acquisitions and Other Business Arrangements
As of December 31, 2009, PMI operated and owned 58 manufacturing facilities, operated two leased manufacturing facilities, one in Korea and one in Mexico, and maintained 30 contract manufacturing relationships with third parties. In addition, it works with 37 third-party operators in Indonesia who
Philip Morris International Inc. (PMI), incorporated in 1987, is engaged in the manufacture and sale of cigarettes and other tobacco products through its subsidiaries and affiliates. Its products are sold in approximately 160 countries. PMI’s portfolio comprises both international and local brands. Its portfolio comprises both international and local brands, which include Marlboro, Merit, Parliament, Virginia Slims, L&M, Chesterfield, Bond Street, Lark, Muratti, Next, Philip Morris and Red & White. PMI divides its markets into four geographic regions: The European Union (EU); The Eastern Europe, Middle East and Africa (EEMA); The Asia Region, and The Latin America and Canada Region. In February 2009, the Company purchased the Petteroes tobacco business, which includes fine-cut trademarks primarily sold in Norway and Sweden. In September 2009, PMI acquired Swedish Match South Africa (Proprietary) Limited.
Separation from Altria Group, Inc.
Prior to March 28, 2008, PMI was a wholly−owned subsidiary of Altria Group, Inc. (“Altria”). On January 30, 2008, the Altria Board of Directors announced Altria’s plans to spin off all of its interest in PMI to Altria’s stockholders in a tax−free transaction pursuant to Section 355 of the U.S. Internal Revenue Code. The distribution of all of our shares owned by Altria (the “Spin−off”), was made on March 28, 2008 (the “Distribution Date”), to stockholders of record as of the close of business on March 19, 2008 (the “Record Date”). Altria distributed one share of our common stock for each share of Altria common stock outstanding on the Record Date.
Acquisitions and Other Business Arrangements
As of December 31, 2009, PMI operated and owned 58 manufacturing facilities, operated two leased manufacturing facilities, one in Korea and one in Mexico, and maintained 30 contract manufacturing relationships with third parties. In addition, it works with 37 third-party operators in Indonesia who