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Altria Group
Altria Group, Inc. () (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.
HoldingsAltria 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. [1]
Philip Morris componentAltria's tobacco subsidiary, Philip Morris, is the world's largest commercial tobacco company by sales. Their flagship Marlboro is the world's most popular tobacco brand. Other tobacco brands owned by Philip Morris are Parliament, Virginia Slims, and Benson & Hedges (licensed in some markets). Philip Morris was founded by a London tobacconist of the same name. He was one of the first people to sell hand-rolled cigarettes in the 1860s, selling them under the brand names Oxford and Cambridge Blues, following the adoption of cigarette smoking by British soldiers returning from the Crimean War. The company opened its New York office in 1902 and soon became part of James Duke's American Tobacco Company monopoly. In 2004 its Philip Morris USA division moved of its 682 New York based employees to Richmond, Virginia. History
Controversy"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."[5] TobaccoPhilip Morris USA brands:
Corporate governanceBoard of directorsCurrent members of the board of directors of Altria Group are:
Political influenceAccording 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. [6] [7] See alsoReferencesExternal links
cs:Altria Group de:Altria Group es:Altria Group fa:???? ?????? fr:Altria id:Altria Group it:Altria Group nl:Altria Group ja:????? pl:Altria pt:Altria ro:Altria Group ru:Altria Group sq:Altria Group fi:Altria Group sv:Altria Group Source: Wikipedia | The above article is available under the GNU FDL. | Edit this article
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