Philip Morris International Inc

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Philip Morris International is an American-headquartered, Switzerland-registered, multinational tobacco company, with 38+ production sites worldwide, selling its products in 180+ countries outside the USA, in Europe (43.9%), Asia and Australia (35.1%), Middle East and Africa (13.6%), Latin America and Canada (7.4%).

Philip Morris International does not operate within the USA; former parent Altria Group Inc's subsidiary Philip Morris USA owns the Philip Morris brands there.

In Jan.2003, Philip Morris Companies Inc changed its name to the Altria Group Inc on the same day it was cleared of responsibility in a smoking-related death.ref,ref In Mar.2008, Altria Group spun off its international operations to remove the business from the "restrictive" constraints of the USA and the numerous pending tobacco harm lawsuits.ref,[1] Altria's shareholders were given shares in Philip Morris International, which was then listed on the London Stock Exchange and other markets.

Brands

Cigarettes (706.7bn in 2019): Marlboro, Parliament, Virginia Slims, Chesterfield, L&M, Bond Street, Philip Morris, Red & White, Next, Lark, Muratti, etc. Heated tobacco products (59.7bn in 2019): IQOS, HEETS, Marlboro HeatSticks and Parliament HeatSticks.

Company

Skull-and-Crossbones.svg Tobacco is addictive, and the single greatest cause of preventable death globally.ref Philip Morris International is highly controversial, and has been the subject of litigation and restrictive legislation from govts.

Shareholders

Total float: 73.6%
Source: MarketScreener.svg, Mar.2020

Timelines

ToDo: link, link, link, link, link, link, link, link, link, link, link, link, DDG, AR-1999

Philip Morris International

  • 2019: Burger Söhne Holding AG: "certain subsidiaries" were acquired, enabling Altria to enter the growing oral nicotine products category. Helix Innovations LLC was established as the parent company of the Burger Söhne subsidiaries, to commercialize and distribute On!, an oral tobacco-derived nicotine pouch product.
  • 2018: Significant investments in the Cronos Group, a global cannabinoid company, and JUUL Labs Inc, a dominant player in the growing e-vapor category.
  • Oct.2016: Anheuser-Busch InBev SA/NV merged with SABMiller plc, becoming the world's largest drink and brewing holdings company. Altria retained its 9.6% economic and voting interest in the new group, with two of its chief executives becoming directors on AB InBev's Board.
  • 2014: Nicocigs, a leading UK-based e-vapor company, was acquired.
  • 2009: UST INC was acquired. UST is a holding company whose primary businesses manufacture and market moist smokeless tobacco products through US Smokeless Tobacco Company, and premium wines through Ste Michelle Wine Estates.
  • Mar.2008: Philip Morris International Inc was spun off from Altria.[2]
    The spin-off was made to remove the international tobacco business from the legal and regulatory constraints facing Philip Morris USA, its domestic counterpart; also in mind were the numerous pending tobacco harm lawsuits.[1] Altria's shareholders were given shares in PMI, which was listed on the London Stock Exchange and other markets.

Altria Group Inc

Altria-Group.svg
Altria Group is one of the world's largest producers and marketers of tobacco, cigarettes and related products. It is the parent company of Philip Morris USA Inc, John Middleton Inc, US Smokeless Tobacco Company Inc, Philip Morris Capital Corporation, and Ste. Michelle Wine Estates Ltd, t/a Chateau Ste. Michelle. Altria also maintains large minority stakes in Belgium-based brewer Anheuser-Busch InBev SA/NV, Canadian cannabis company Cronos Group Inc, and the e-cigarette maker Juul Labs Inc. Altria is headquartered in Henrico County, Virginia.

  • Mar.2007: Kraft Foods Inc: Altria's 88.1% stake In Kraft was spun off, distributing all shares to Altria's shareholders.
  • 2007: John Middleton acquisition...
  • 2005: PT HM Sampoerna Tbk in Indonesia and Compania Colombiana de Tabaco SA in Colombia were acquired. Both companies were the largest cigarette manufacturers in their respective countries.
  • 2005: China National Tobacco Company: an agreement was made for the licensed production of Marlboro in China, and the establishment of an international equity joint venture outside China.
  • Jan.2003: Altria Group Inc: Philip Morris Companies Inc formally changed its name,ref,[3] on the same day it was cleared of responsibility in a smoking-related death.ref,ref Altria continued to own 100% of Philip Morris USA, and remained the parent company of Kraft Foods Inc, Philip Morris International, Philip Morris USA and Philip Morris Capital Corporation.

Philip Morris Companies Inc

  • 2003: Flag-Philippines.svg A new factory was opened in the Philippines.
  • 2002: SABMiller plc: Miller Brewing Company merged with South African Breweries plc to form the world's 2nd-largest beer company, with Philip Morris Companies retained a continuing interest in the enlarged group.
  • Jun.2001: Kraft Foods Inc began operating as a publicly-traded company when Philip Morris spun off 16% of the firm in an IPO, retaining 84% ownership and 98% of its voting rights.
  • 2001: Tax Haven: Philip Morris International's operations centre was relocated to Lausanne, Switzerland from New York.[4]
  • Jun.2000: Nabisco Holdings Corporation was acquired.ref The Nabisco brands were integrated into the #Kraft General Foods Inc business worldwide.ref
  • Jan.1995: Kraft Foods Inc: Kraft General Foods Inc changed its name after having been reorganised into one operating company.
  • 1995: Flag-Malaysia.svg The first Philip Morris International factory in Asia opened in Seremban, Malaysia.
  • 1992: Tabak AS, a Czech Republic state-owned company, joined forces with Philip Morris International. This was the first in a series, as the strictly controlled markets of Central and Eastern Europe were liberalised. Kazakhstan, Lithuania, Hungary and other countries of Eastern and Central Europe swiftly followed.
  • Mar.1989:
    Kraft-General-Foods.svg
    Kraft General Foods Inc: Philip Morris combined Kraft Inc and General Foods Corporation, creating the largest food company in the USA and Canada, and the 2nd-largest in the world. Kraft General Foods International was also established.ref
  • Dec.1988: Kraft Inc was acquired. As in the General Foods deal, most of the financing was provided by non-USA sources.ref
  • 1987: Philip Morris International Inc was incorporated as an operating company of Philip Morris Companies Inc, acquiring the international business division of Philip Morris.
  • 1986: Seven-Up Company was sold in 2 parts:
  • 1985: Philip Morris Companies Inc was incorporated, becoming a publicly-held holding company, and parent of Philip Morris Inc. Principal wholly-owned subsidiaries were Philip Morris Inc (Philip Morris USA), Philip Morris International Inc, Miller Brewing Company and Philip Morris Capital Corporation.ref

Philip Morris Inc

  • 1985: #General Foods Corporation was acquired, as part of Philip Morris's diversification away from tobacco. General Foods was the owners of Oscar Mayer hot dogs, Entenmann’s pastries, Jell-O, Sanka coffee and Kool-Aid.ref
  • 1985: Altria Group: Philip Morris Inc restructured, with a new publicly-held holding company being incorporated.
  • 1982: Philip Morris Credit Corporation (now Philip Morris Capital Corporation) was incorporated.ref
  • 1980: Flag-Netherlands.svg The largest factory outside the USA opened in Bergen op Zoom in the Netherlands.
  • 1978: Seven-Up Company: a 97% shareholding was acquired.
  • 1977: Flag-Soviet-Union.svg Soviet Tobacco Industry and Philip Morris sign licensing agreement for local production of Philip Morris brands.
  • 1972: Marlboro, launched in 1908, became the world's top-selling cigarette brand.
  • 1972: Flag-Japan.svg Japan Tobacco and Salt Public Corporation, (later renamed Japan Tobacco Inc), licensing agreement signed to begin the manufacture of Marlboro in Japan.
  • 1970: Flag-Germany.svg Philip Morris is set up as an affiliate in Germany.
  • 1969: Miller Brewing Company, based in Milwaukee, was acquired (53%) from WR Grace & Company. In 1970, the remaining 47% was acquired from De Rance Foundation in Milwaukee.
  • 1967: Philip Morris Inc: Philip Morris reorganized itself, creating three internal operating divisions: Philip Morris Domestic, Philip Morris International (formerly Philip Morris Overseas), and Philip Morris Industrial. In 1968, Philip Morris Domestic changed its name to Philip Morris USA.

Philip Morris & Company Ltd

  • 1965: Flag-Argentina.svg Massalin & Celasco SA: through a licensing agreement with the Argentinian company, operations were commenced in the country.
  • 1963: Flag-EU.svg Fabriques de Tabac Réunies, a factory in Switzerland, was acquired.
  • 1960: American Safety Razor Company was acquired by Philip Morris. American Safety's subsidiary Lightfoot Schultz Company, a soap and toiletries manufacturer based in Hoboken, became a division of Philip Morris. It was dissolved by Philip Morris in Apr.1973.(See here, here and here for more.)
  • 1957: Milprint and Nicolet Paper Company of Milwaukee was acquired, in the company's first foray outside the tobacco business.
  • 1956: Tabacalera Nacional in Venezuela became the 2nd Philip Morris affiliate outside the USA, and the first in Latin-America.
  • 1954: Flag-Australia.svg Philip Morris (Australia) became the first affiliate of Philip Morris & Company Ltd Inc outside the USA.
  • 1919: Philip Morris & Company Ltd Inc: the USA business was purchased by George J Whelan of Tobacco Products Corporation, who incorporated a new company, owned by Tobacco Products Corporation, to manage its assets.ref
  • 1902: Philip Morris & Company Ltd was incorporated in New York.ref Ownership was held 50/50 between the British parent and American partners.
  • 1894: Philip Morris Company: William Curtis Thomson and his family took majority control of the company after its creditors seized control.
  • 1887: Philip Morris & Company: Morris and Grunebaum dissolved their partnership.
  • 1885: Philip Morris & Company and Grunebaum Ltd was established by Philip Morris' son, Leopard Morris, with Joseph Grunebaum.
  • 1881: Philip Morris went public in London.
  • 1847: Philip Morris Esq: Philip Morris opened a shop on London’s Bond Street, selling tobacco and ready-made cigarettes.
Additional Sources: The Philip Morris USA story. Altria Group Inc. Original archived on Mar.07.2005.The Philip Morris International story. Altria Group Inc. Original archived on Mar.08.2005.PMI's key milestones. Philip Morris International. Accessed Nov.17.2019.

References

  1. ^ a b Altria to spin off Philip Morris International. NBC News, Aug.29.2007.
  2. ^ Altria Group Inc Completes Spin-off of Philip Morris International Inc. Press Release, Altria Group Inc, Mar.19.2008. Original archived on Jan.05.2017.
  3. ^ "Altria Means Tobacco: Philip Morris’s Identity Crisis.", Elizabeth A Smith, Ruth E Malone, American Journal of Public Health, Apr.2003.
  4. ^ Where to find us. Philip Morris International. Original archived on Apr.23.2006.