Tag: pmi

Tobacco giants sue Britain over plain-packaging

Tobacco giants sue Britain over plain-packaging

| June 4, 2015

Philip Morris International (PMI) and British American Tobacco (BAT) have sued the British government over plain-packaging legislation passed in March. The law, which would take effect from May 2016, requires cigarettes to be sold in packages of uniform shape and size that feature only the brand name and contain prominent graphic health warnings. England is […]

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PMI announces new U.S. tobacco purchasing model

PMI announces new U.S. tobacco purchasing model

| November 5, 2014

Philip Morris International is adopting a new leaf buying model in the United States. The company will transition from directly purchasing tobacco through contracts with U.S. growers to purchasing through two suppliers, Alliance One International Inc. (AOI) and Universal Corp. This new purchasing model will take effect on April 1, 2015. “Moving to a new […]

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AOI to supply PMI

AOI to supply PMI

| November 5, 2014

Alliance One International has been selected to supply U.S. tobacco to Philip Morris International (PMI), as PMI adopts a new leaf procurement model in the United States and Canada. On Nov. 5, 2014, PMI announced its decision to transition from direct contracting and purchasing of tobacco from U.S. growers to sourcing its U.S. tobacco requirements […]

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PMI buys Nicocigs

PMI buys Nicocigs

| June 27, 2014

Philip Morris International has purchased Nicocigs, a leading U.K.-based vapor company whose principal brand is Nicolites. The transaction is not subject to regulatory approval and is not material to PMI’s 2014 consolidated financial position. “This acquisition is complementary to our previously announced agreement for the license and distribution of Altria Group’s e-vapor products,” said Drago […]

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PMI and Altria to cooperate on e-cigs

PMI and Altria to cooperate on e-cigs

| December 22, 2013

Philip Morris International and Altria Group have established a strategic framework to commercialize reduced-risk products and e-cigarettes. Under the terms of a set of licensing, supply and cooperation agreements, Altria will make available its e-cigarette products exclusively to PMI for commercialization outside the United States and PMI will make available two of its candidate reduced-risk […]

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PMI and JTI acquire stakes in Russian distribution firm

PMI and JTI acquire stakes in Russian distribution firm

| December 4, 2013

Philip Morris International and Japan Tobacco International are acquiring equity stakes of 20 percent each in Megapolis Distribution, the holding company of CJSC TK Megapolis, a major distributor in Russia. The companies are paying $750 million each for their stakes. If Megapolis’ operational performance meets certain benchmarks during the four fiscal years following the closing […]

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PMI buys remaining shares of PM Mexico

PMI buys remaining shares of PM Mexico

| May 21, 2013

Philip Morris International will buy Grupo Carso’s 20 percent share in Philip Morris Mexico (PMM)) for approximately $700 million. The purchasing price is subject to a potential adjustment based on PMM’s performance over three years ending two fiscal years after the closing of the purchase. The transaction, which will give PMI a 100 percent share […]

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PMI to webcast symposium presentation

PMI to webcast symposium presentation

| May 9, 2013

Philip Morris International is due to host a live audio webcast at www.pmi.com/webcasts of its remarks and question-and-answer session by CFO Jacek Olczak at the Goldman Sachs Consumer Products Symposium on May 14, starting about 9:05 a.m. Eastern Time. The webcast, which will be in listen-only mode, will provide live audio of the entire PMI session. An […]

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PMI celebrates performance at annual meeting

PMI celebrates performance at annual meeting

| May 8, 2013

Philip Morris International held its annual meeting of shareholders today. Louis C. Camilleri, chairman of the board and CEO, addressed shareholders and answered questions. Chief Operating Officer André Calantzopoulos gave the business presentation, focusing on PMI’s performance since its spin-off in March 2008, which has seen total shareholder return reach 135 percent through April 30, […]

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Retailers say PM still on top, e-cigs will continue to grow

Retailers say PM still on top, e-cigs will continue to grow

| April 18, 2013

The first quarter of 2013 has come and gone, and with it, a UBS-CSP survey of a variety of convenience store operators–whose sizes ranged from one store location to more than five hundred—on a range of tobacco-related issues. The exclusive study brought good news for industry leader Philip Morris and even better news for the […]

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Philip Morris Q1 profit declines on costs, cuts full-year EPS view

Philip Morris Q1 profit declines on costs, cuts full-year EPS view

| April 18, 2013

Tobacco giant Philip Morris International Inc. Thursday reported a decline in first-quarter profit, reflecting higher costs. Meanwhile, earnings per share improved from last year. The company also lowered its full-year 2013 earnings outlook for prevailing exchange rates only, according to a story on RTTNews.com. However, the firm reiterated its annual constant-currency adjusted diluted earnings per […]

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Higher 1Q profit, revenue expected from PMI

Higher 1Q profit, revenue expected from PMI

| April 17, 2013

Philip Morris International Inc., which sells Marlboro and other brands abroad, is expected to report higher profit and revenue when it releases its first-quarter results before the market opens on Thursday. Whether cutting costs and raising prices continued to help PMI compensate for consumers buying fewer, or cheaper, cigarettes has investors anticipating the announcement. Cigarette […]

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PMI, Spanish tobacco renew relationship

PMI, Spanish tobacco renew relationship

| April 9, 2013

Philip Morris International is strengthening its long-term commitment to the future of tobacco growing in Spain by renewing its Framework Collaboration Agreement with the Spanish Ministry for Agriculture, Food and the Environment for the next three years, the company said last week. “As part of the new Agreement signed today in Madrid and subject to […]

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Calantzopoulos new CEO of PMI

Calantzopoulos new CEO of PMI

| March 13, 2013

André Calantzopoulos has been appointed CEO of Philip Morris International. Calantzopoulos has served as PMI’s chief operating officer since the company’s spin-off in March 2008. Louis Camilleri, PMI’s previous CEO, will remain as chairman of the board and as an employee of the company. Since the spin-off, Camilleri and Calantzopoulos have worked closely together in their respective […]

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PMI volumes down

PMI volumes down

| October 18, 2012

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 […]

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