Tobacco Giant Separates U.S., International Units

Source from:  CourierPOstOnline.com • March 30, 2008 03/31/2008

For the first time since Philip Morris, Esq., opened a tobacco shop on Bond Street in London in 1847, the company's U.S. and international businesses will be separate. The Altria Group Inc. holding company split its two cigarette units on Friday, sealing the deal by giving its shareholders stock in the newly independent Philip Morris International. Altria now consists of Philip Morris USA, cigar maker John Middleton Inc., a money-management arm and a 28.6 percent stake in Britain-based beer maker SABMiller PLC. It will move its headquarters to Richmond, Va., from Midtown Manhattan. Both Philip Morris companies produce Marlboros. PMUSA also makes Virginia Slims, Parliament and Basic cigarettes while PMI makes the L&M, Bond Street and other brands. Enditem