Philip Morris International reported net revenues, excluding excise taxes, of $7.9 billion in the third quarter of 2012, down 5.3 percent from the comparable 2011 quarter. Its cigarette shipment volume was down by 1.3 percent. Operating companies’ income was down 1.5 percent, to $3.7 billion. Excluding the impact of currency exchange rates and acquisitions, reported [...]
The Molins Machine Co. was founded on Oct. 18, 1912—exactly one hundred years ago. The Mark 1 cigarette making machine introduced in 1928 was the first of its kind and led to a long line of machinery that became the latest standard for quality. During these years the company revolutionized the tobacco industry with innovative [...]
John Dalli has today announced his resignation as a member of the EU Commission, with immediate effect, according to an EU Commission press statement. Dalli informed the president of the European Commission, Jose Manuel Barroso, of his decision following an investigation by OLAF, the EU’s antifraud office, into a complaint made in May by Swedish [...]
Khanh Viet Corp. (Khatoco) of Vietnam officially opened its new threshing plant in Nha Trang City on Oct. 2, 2012. Participating in the ceremony were various government officials, multinational tobacco merchants/processors and representatives of Evans Mactavish, which supplied the machinery for the facility. A seaside resort with first-class hotels and exquisite food, Nha Trang City [...]
Costa Rica’s Ministry of Health is considering banning the import of electronic cigarettes, according to a story in The Costa Rica News. The ministry says it believes the ban is necessary because the US Food and Drug Administration has said that electronic cigarettes contain toxic substances. Since a smoking ban was passed inCosta Rica, many [...]
Australia’s taxpayer-owned Future Fund spent more than $37 million investing in tobacco stocks at the same time as the government was finalising its law on the so-called ‘plain packaging’ of tobacco, according to a story in the Canberra Times. In a move that has attracted fierce criticism from health groups; the fund’s stake in global [...]
The New Zealand government’s proposal to force cigarettes into ‘plain packaging’ fails to respect adult smokers who wish to run their own lives and make their own decisions, British American Tobacco New Zealand (BATNZ) has said in a press note. “There is already universal awareness of the risks associated with smoking,” said Steve Rush, general [...]
Russia’s Prime Minister, Dmitry Medvedev, has said that a proposed anti-tobacco law was “just the beginning” of a campaign to counter high mortality rates in the country, according to a story by Stepan Kravchenko and Henry Meyer for Bloomberg News. The government is due to submit the bill to lawmakers by November 1, outlawing all [...]
Nepal’s Public Enterprises Management Board has recommended leasing the assets and management of the Janakpur Cigarette Factory to the private sector, according to a story in Republica. The Board believes this is the only course of action that might lead to the revival of the state-owned tobacco company, which has been closed for two years. [...]
UK Work and Pensions Secretary, Iain Duncan Smith, is aiming to prevent welfare money from being spent on cigarettes and alcohol, according to a story in the Telegraph relayed by the TMA. Smith has apparently directed department officials to study whether welfare recipients should receive their payments on smart cards, rather than in cash, with [...]
