PMI's Future: From Remarks by Louis C. Camilleri, Chairman and CEO-elect and Andre Calantzopoulos, Chief Operating Officer-elect after the spin-off of

March 12, 2008 - PMI's Future: From Remarks by Louis C. Camilleri, Chairman and CEO-elect and Andre Calantzopoulos, Chief Operating Officer-elect after the spin-off of PMI on March 28, 2008.. On 28 March 2008, PMI will become a separate business entity that will focus on strong business growth in emerging economies as US sales decline.The move may exempt PMI from US tobacco regulations and negative public opinion while enabling greater freedom to experiment with new product lines. (According to the World Health Organisation, smoking is rising 3.4% a year in developing countries as it falls in developed nations.) Cigarette shipment volume has declined by 8% since 2003 but operating companies income increased 29% highlighting the ability to grow profitable in a declining market. Philip Morris International forecast long-term annual revenue growth of 4 percent to 6 percent and volume growth of 1 percent to 2 percent. By the end of 2010, it expects cost savings of $1 billion and cumulative total cash flow of about $22 billion. Andre Calantzopoulos, who will be chief operating officer of Philip Morris International, said there are plenty of areas in the world for Philip Morris to grow its business. "In the international market, there are still more than five out of every six adult smokers who are consuming brands that are not manufactured and sold by PMI," he said. Among large cigarette markets where the company has little or no presence, he cited China, Vietnam, India and Bangladesh. Philip Morris International plans to spend about $300 million a year on research and development, split evenly between conventional products and new items like the "Heatbar" electronically heated cigarette that is currently being market tested. Some directly related news briefs: Altria Group, Inc. to Host Webcast on Tuesday, March 11, 2008 Concerning Spin-off of.., More on Philip Morris International of the Future.., With less restrains PMI looks to the future.. and Tomorrow Altria Board Expected to Announce Decision to Split... Other related: February 19, 2008, January 20, 2008, September 28, 2007, August 21, 2007, August 2, 2007, July 21, 2007 and October 4, 2006. Louis C. Camilleri Andre Calantzopoulos (TobaccoWatch.org)