Jessica Miller | April 26, 2013
Philip Morris International (PMI) is fortifying its long lasting determination to the future of tobacco growing in Spain by reviving its Framework Collaboration Agreement with the Spanish Ministry for Agriculture, Food and the Environment for the following three years, the company representative stated a week ago. “As part of the completely new Agreement signed these days in Madrid, PMI will acquire 33 % more of the Spanish tobacco crop in 2013 in comparison to 2012,” the company reported in a note shared on its official website on Monday. “In 2014 and 2015 PMI will raise its tobacco acquisitions by an annual rate of around 5 %.”
Jessica Miller | April 19, 2013
Marlboro manufacturer Altria Group newly arriving CEO Martin J. Barrington acquired an earning package valued at $10.3 million for budgetary 2012, based on the Associated Press research. The earning package appeared in a year when Richmond, the proprietor of the nation’s largest cigarette producer, Philip Morris USA, witnessed its net revenue boosting 23 % to $4.18 billion. Profits not including excise taxes increased 5 % to $17.5 billion. Cigarette volumes were basically fixed at 134.9 billion cigarettes. Its whole-year U.S. retail share raised 0.8 percentage points to 49.8 % of the tobacco market. Smokeless products volumes increased around 4 % and it reported 55.4 % of the U.S. retail market.
Jessica Miller | April 11, 2013
Leaders of two big state Senate committees, together with Senate President Jeff Kessler, are supporting a bill that would increase state cigarette taxes by 1$ starting this July. The law, released during Monday’s floor session, would boost per-pack taxes from 55 cents to $1.55. It also would raise taxes on other smoking products from 7% of the wholesale price to 50 % of the wholesale price.
Jessica Miller | April 5, 2013
Philip Morris International (PMI) reported several days ago that CEO Louis C. Camilleri will be substituted by the person who directed it before it grew to become an individual company.