Altria Finalizes Restructuring, Separates International Tobacco Operations

Source from:  jointogether.org March 31, 2008  04/01/2008

Altria Group Inc. has created an independent company for Philip Morris' international operations separate from its U.S. tobacco and alcohol business, Business Week reported March 31. Philip Morris International will operate separately from the rest of Altria, which will consist of Philip Morris USA, cigar maker John Middleton Inc., and brewer SABMiller Plc. Both Philip Morris entities will continue to make Marlboro cigarettes. The split will allow Philip Morris International to manufacture tobacco products unencumbered by legal and public-relations problems in the U.S., such as flavored cigarettes. The international company had revenues of $55.1 billion last year, compared to $18.49 billion for Philip Morris USA. Enditem