Philip Morris International: Difference between revisions
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'''Philip Morris International''' ('''PMI''') ({{NYSE|PM}}) is an international cigarette and tobacco company, with products sold in over 160 countries with 15.6% of the international cigarette market outside the United States. Because |
'''Philip Morris International''' ('''PMI''') ({{NYSE|PM}}) is an international cigarette and tobacco company, with products sold in over 160 countries with 15.6% of the international cigarette market outside the United States. Because tobacco, the main constituent of cigarettes, is considered [[Health effects of tobacco|the single greatest cause of preventable death globally]].<ref>{{cite book |title=WHO Report on the Global Tobacco Epidemic, 2008: the MPOWER package |year=2008 |publisher=World Health Organization |location=Geneva |isbn=978-92-4-159628-2 |url=http://www.who.int/tobacco/mpower/mpower_report_full_2008.pdf}}</ref> considered [[addiction|addictive]], the company's operations (and its competitors) are highly controversial and are increasingly the subject of litigation and restrictive legislation from governments concerned about the health impacts of its products. |
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Until a [[Corporate spin-off|spin-off]] in March 2008, Philip Morris International was an operating company of [[Altria Group]]. Altria explained the spin-off, arguing PMI would have more "freedom" outside the constraints of US corporate ownership in terms of potential litigation and legislative restrictions to "pursue sales growth in emerging markets."<ref>{{cite news|title=Altria to spin off Philip Morris International|url=http://www.msnbc.msn.com/id/20494757/ns/business-world_business/t/altria-spin-philip-morris-international/#.Tu8haCMYnEU|accessdate=19 December 2011|newspaper=AP/MSNBC|date=29 August 2007}}</ref> The shareholders in Altria at the time were given shares in PMI, which was listed on the London Stock Exchange and other markets. |
Until a [[Corporate spin-off|spin-off]] in March 2008, Philip Morris International was an operating company of [[Altria Group]]. Altria explained the spin-off, arguing PMI would have more "freedom" outside the constraints of US corporate ownership in terms of potential litigation and legislative restrictions to "pursue sales growth in emerging markets."<ref>{{cite news|title=Altria to spin off Philip Morris International|url=http://www.msnbc.msn.com/id/20494757/ns/business-world_business/t/altria-spin-philip-morris-international/#.Tu8haCMYnEU|accessdate=19 December 2011|newspaper=AP/MSNBC|date=29 August 2007}}</ref> The shareholders in Altria at the time were given shares in PMI, which was listed on the London Stock Exchange and other markets. |
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A Reuters report published in the Sydney Morning Herald cited legal opinion that the case would fail "...as intellectual property rights agreements give governments the right to pass laws to protect public health." |
A Reuters report published in the Sydney Morning Herald cited legal opinion that the case would fail "...as intellectual property rights agreements give governments the right to pass laws to protect public health." |
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The company has also lobbied against Uruguay's strong anti-smoking laws. <ref>Rory Carroll. Urguay Bows to pressure over anti-smoking legislation. Guardian 27 July 2010 http://www.guardian.co.uk/world/2010/jul/27/uruguay-tobacco-smoking-philip-morris</ref> Philip Morris International has announced an overhaul of its human rights protections of tobacco workers in Kazakhstan and 30 other countries after critical reports.<ref>Human Rights Watch May 22 2011 http://www.hrw.org/en/news/2011/05/09/kazakhstan-philip-morris-international-overhauls-labor-protections</ref> |
The company has also lobbied against Uruguay's strong anti-smoking laws. <ref>Rory Carroll. Urguay Bows to pressure over anti-smoking legislation. Guardian 27 July 2010 http://www.guardian.co.uk/world/2010/jul/27/uruguay-tobacco-smoking-philip-morris</ref> Philip Morris International has announced an overhaul of its human rights protections of tobacco workers in Kazakhstan and 30 other countries after critical reports.<ref>Human Rights Watch May 22 2011 http://www.hrw.org/en/news/2011/05/09/kazakhstan-philip-morris-international-overhauls-labor-protections</ref> |
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==World Health Organization and Smoking== |
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Tobacco, the main constituent of cigarettes, is considered [[Health effects of tobacco|the single greatest cause of preventable death globally]].<ref>{{cite book |title=WHO Report on the Global Tobacco Epidemic, 2008: the MPOWER package |year=2008 |publisher=World Health Organization |location=Geneva |isbn=978-92-4-159628-2 |url=http://www.who.int/tobacco/mpower/mpower_report_full_2008.pdf}}</ref> |
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==Government of Pakistan issued notice to Philip Morris== |
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The Director General of Health Services Academy, Government of Pakistan and in charge of Tobacco Control Cell, Dr Asad Hafeez has issued notice to Philip Morris Pakistan for illegally advertising cigarette in some section of print media so that anti-tobacco ordinance could be implemented. According to President’s ordinance titled “ The Prohibition of Smoking in Enclosed Places and Protection of Non-Smokers Health Ordinance, 2002”, no person or company shall advertise tobacco and tobacco products in any media, in any place and any public service vehicle government. But Philips Morris Pakistan has violated government rules, regulations and guidelines and published huge advertisements in some sections of national media.<ref>http://www.onlinenews.com.pk/details.php?id=186184</ref> |
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==Government of Pakistan caught Philip Morris for tax evasion== |
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Leading business newspaper of Pakistan "Business Recorder" reported that a leading manufacturer of cigarette of Pakistan evaded millions of rupees taxes. According to officials of Federal Board of Revenue, Government of Pakistan, Philip Morris Pakistan (Former Lakson Tobacco Company) has evaded taxes by short payment of federal excise duty, sales tax and for massive tax evasion in their imported brand Marlboro to the tune of millions on the import of cigarettes. Government of Pakistan also fined Philip Morris Pakistan for this illegality.<ref>http://www.brecorder.com/agriculture-a-allied/single/624/183/1254532/?date=2011-11-24</ref><ref>http://www.onepakistan.com/finance/news/taxation/1947-fbr-issues-notices-to-a-tobacco-company-for-tax-evasion.html</ref> |
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==References== |
==References== |
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Revision as of 07:25, 28 December 2011
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| File:Philip Morris International Logo svg.png | |
| Company type | Public (NYSE: PM) S&P 500 Component |
|---|---|
| Industry | Tobacco |
| Headquarters | New York, New York, USA |
Key people | Louis C. Camilleri, Chairman & CEO |
| Products | Cigarettes |
| Revenue |  $27.208 billion USD (2010) |
| $11.200 billion USD (2010) | |
9,048,000,000 United States dollar (2022)  | |
| Total assets | 41,733,000,000 United States dollar (2022) |
Number of employees | 78,300 (2010) |
| Website | www.pmi.com |
Philip Morris International (PMI) (NYSE: PM) is an international cigarette and tobacco company, with products sold in over 160 countries with 15.6% of the international cigarette market outside the United States. Because tobacco, the main constituent of cigarettes, is considered the single greatest cause of preventable death globally.[1] considered addictive, the company's operations (and its competitors) are highly controversial and are increasingly the subject of litigation and restrictive legislation from governments concerned about the health impacts of its products.
Until a spin-off in March 2008, Philip Morris International was an operating company of Altria Group. Altria explained the spin-off, arguing PMI would have more "freedom" outside the constraints of US corporate ownership in terms of potential litigation and legislative restrictions to "pursue sales growth in emerging markets."[2] The shareholders in Altria at the time were given shares in PMI, which was listed on the London Stock Exchange and other markets.
Tobacco giant
In 2007, PMI sold 831 billion cigarettes, or the biggest non-government tobacco company in the world by volume. [3]
With its Operations Center based in Lausanne, Switzerland,[4] it owns 7 of the top 15 tobacco brands in the world [5] and has a mix of international and local products, which are produced in more than 50 factories around the world. PMI employs 75,600 people worldwide.[6]
Its main brands are Marlboro, Longbeach, L&M, Philip Morris, Red & White, Bond Street, Chesterfield, Parliament, Lark, A-Mild, Morven Gold, Muratti, DJI Sam Soe, Rög, Multifilter and Virginia Slims.
Board of Directors
- Harold Brown
- Mathis Cabiallavetta
- Louis C. Camilleri - Chairman and Chief Executive Officer
- J. Dudley Fishburn
- Graham Mackay
- Sergio Marchionne
- Lucio A. Noto
- Carlos Slim Helú
- Stephen Wolf[7]
Charitable giving
The company gives $25 million per year through its own in-house charitable giving department to charitable causes worldwide including domestic violence, emergency housing, education, combating extreme poverty, teaching sustainable agriculture techniques in Africa and so on. [8]
Research and development
PMI has a large research and development program, and declares its priority to be "developing products with the potential to reduce the risks of smoking-related diseases." They explain the focus of the R&D program is reducing the levels of toxic chemical compounds produced during the process of burning tobacco within a cigarette with what they describe as "new, next generation products."[9]
Controversies and public health disputes
In June 2011, Phillip Morris International announced it was using ISDS provisions in the Australia-Hong Kong Biliateral Investment treaty (BIT) to demand compensation for Australia's plain cigarette packaging anti-smoking legislation, despite the fact the legislation is non-discriminatory and addresses a significant public health problem.[10] A Reuters report published in the Sydney Morning Herald cited legal opinion that the case would fail "...as intellectual property rights agreements give governments the right to pass laws to protect public health." The company has also lobbied against Uruguay's strong anti-smoking laws. [11] Philip Morris International has announced an overhaul of its human rights protections of tobacco workers in Kazakhstan and 30 other countries after critical reports.[12]
References
- ^ WHO Report on the Global Tobacco Epidemic, 2008: the MPOWER package (PDF). Geneva: World Health Organization. 2008. ISBN 978-92-4-159628-2.
- ^ "Altria to spin off Philip Morris International". AP/MSNBC. 29 August 2007. Retrieved 19 December 2011.
- ^ "Altria to spin off Philip Morris International". AP/MSNBC. 29 August 2007. Retrieved 19 December 2011.
- ^ "Where to find us." Philip Morris International. Retrieved on 19 October 2009.
- ^ "PMI Factsheet" (PDF). PMI. Retrieved 19 December 2011.
- ^ http://www.philipmorrisinternational.com/PMINTL/pages/eng/ourbus/Our_employees.asp
- ^ Philip Morris International Board of Directors
- ^ "Our Charitable Giving Program". PMI. Retrieved 19 December 2011.
- ^ "R&D at PMI". PMI. Retrieved 19 December 2011.
- ^ Klya Tienhaara and Thomas Faunce Gillard Must Repel Big Tobacco's Latest Attack. Canberra Times 28 June 2011 http://www.canberratimes.com.au/news/opinion/editorial/general/gillard-must-repel-big-tobaccos-latest-attack/2209168.aspx
- ^ Rory Carroll. Urguay Bows to pressure over anti-smoking legislation. Guardian 27 July 2010 http://www.guardian.co.uk/world/2010/jul/27/uruguay-tobacco-smoking-philip-morris
- ^ Human Rights Watch May 22 2011 http://www.hrw.org/en/news/2011/05/09/kazakhstan-philip-morris-international-overhauls-labor-protections
External links
- Official website
- Philip Morris International Profile at Wikinvest
- CNN Money (2001, July 16). "Morris study blasted: Commissioned study found smokers' early deaths helped Czech Republic".
http://www.brecorder.com/general-news/single/599/172/1253177/
