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Phillip Morris |
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It has been suggested that Rebranding of Phillip Morris to Altria be merged into this article or section. (Discuss) |
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| Type | Public (NYSE: MO) |
|---|---|
| Founded |  1985 Virginia, USA |
| Founder(s) | Philip Morris |
| Headquarters | Henrico County, Virginia |
| Key people | Michael E. Szymanczyk (Chairman) & (CEO) |
| Industry | Tobacco |
| Products | See below |
| Market cap | US$ 41 Billion (2008)1 |
| Revenue | ▼ US$ 38.05 billion (2007) [1] |
| Operating income | ▼ US$ 13.235 Billion (2007) |
| Net income | ▼ US$ 9.786 Billion (2007) [2] |
| Total assets | ▼ US$ 57.211 Billion (2007) |
| Total equity | ▼ US$ 18.554 Billion (2007) |
| Employees | 84,000 (2007) |
| Website | www.altria.com |
Altria Group, Inc. (NYSE: MO) (previously named Philip Morris Companies Inc.), based in Henrico County, Virginia, is the parent company of Philip Morris USA, John Middleton, Inc. and Philip Morris Capital Corporation, and is one of the world's largest tobacco corporations. In addition, Altria Group, Inc. has a 28.7% economic and voting interest in one of the world's largest brewing companies, UK based SABMiller plc. It is a component of the S&P 500 and was a component of the Dow Jones Industrial Average until February 19, 2008.
On January 27, 2003, Philip Morris Companies Inc. changed its name to Altria Group, Inc. On March 30, 2007, a spin out of Kraft Foods subsidiary (publicly traded since 2001) was concluded through distribution of the remaining stake of shares (88.1%) to Altria shareholders. As a result, Altria no longer holds any interest in Kraft Foods. On March 28, 2008 a similar spin out of Philip Morris International was completed with 100% of shares being distributed to Altria shareholders.
Altria is acquiring snuff competitor U.S. Tobacco.
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Altria Group, Inc. owns 100 percent of Philip Morris USA, John Middleton, Inc. and Philip Morris Capital Corporation. It also owns 28.7% of SABMiller PLC.
Before the recent restructuring, the net revenue (and operating income) of Altria Group, Inc. came predominantly from its tobacco business, as is shown in the following table. Altria's share of SABMiller's revenue and profits is not included in the table below because its holding is too small to be consolidated in the group accounts. 2
| Activity | Net revenue in 2006 (millions USD) |
Net revenue in 2006 (%) |
Operating income in 2006 (millions USD) |
Operating income in 2006 (%) |
|---|---|---|---|---|
| USA tobacco | 18,474 | 18.2% | 4,812 | 26.5% |
| International tobacco | 48,260 | 47.6% | 8,458 | 46.5% |
| North American food | 23,118 | 22.8% | 3,753 | 20.7% |
| International food | 11,238 | 11.1% | 964 | 5.3% |
| Financial services | 317 | 0.3% | 176 | 1.0% |
| Total | 101,407 | 100% | 18,163 | 100% |
"Philip Morris documents show the majority of the company's internal reports regarding PO-210 (Polonium) were not published. One manuscript believed by some Philip Morris scientists to be favourable to the tobacco industry was withheld from publication for fear of heightening public awareness of PO-210."3
Philip Morris USA brands:
Current members of the board of directors of Altria Group are:
According to the Center for Public Integrity, Altria spent around $101 million on lobbying the United States government between 1998 and 2004, making it the second most active organization in the nation. 4 5
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