Philip Morris International Inc. (PMI) Presents
at the Consumer Analyst Group of Europe (CAGE) Conference on March 28th
The earthquake and tsunami in Japan are not expected to affect Philip Morris International Inc.'s sales and profit in the country, the cigarette maker said today.
Philip Morris International, which sells Marlboro and other brands overseas, said during a presentation at the Consumer Analyst Group of Europe Conference in London that all of the cigarettes for sale in Japan are produced outside the country and shipments at ports are "being unloaded normally."
The company said four of 28 third-party distribution centers in Japan are closed because of damage. Two are expected to open this week, and other distribution arrangements are being made for the other two centers.
The company, headquartered in New York and Lausanne, Switzerland, said it reopened its Tokyo office March 24 after a temporary closing. All of its employees are accounted for and safe.
Philip Morris International is the world's second-biggest cigarette company after the state-controlled China National Tobacco Corp. Altria Group Inc. in Richmond, Va., owner of Philip Morris USA, spun off Philip Morris International in 2008. Altria is the largest U.S. cigarette seller.
Japan - study shows the promotion of menthol cigarettes to women had increased the rate of female smoking even as men smoked less..
Reference: Philip Morris International Inc. (PMI) Presents at the Consumer Analyst Group of Europe (CAGE) Conference, SOURCE: Philip Morris International Inc., 3/28/2011.
March 28, 2011
Reference: Philip Morris International says Japan profits intact 3/28/2011