Altria Group
Headquarters: 6601 West Broad St.
Richmond, VA 23230
Employees: 84,000
CEO: Michael Szymanczyk
Stock Symbol: MO
Website:
http://www.altria.com
Company News
Philip
Morris Career Site
Altria owns 100% of each of Philip Morris USA Inc., U.S. Smokeless Tobacco Co., John Middleton Co., Philip Morris Capital Corporation and Ste. Michelle Wine Estates Ltd. In addition, as of January 6, 2009, Altria held a 28.5% economic and voting interest in SABMiller plc.
The brand portfolio of Altria's tobacco operating companies includes such well-known names as Marlboro, Copenhagen, Skoal and Black & Mild.
Philip Morris USA is the largest tobacco company in the United States, with approximately half of the U.S. cigarette market, including the Marlboro brand, Basic, Chesterfield, Lark, L&M, Parliament and Virginia Slims.
The company acquired UST in January for $11.7 billion. U.S. Smokeless Tobacco Company is the world’s leading producer and marketer of moist smokeless tobacco products, including its two marquee brands, Copenhagen and Skoal, which outsell all others in the category.
Altria's 2008 net revenues increased 3.7% to $19.4 billion and net earnings were $4.9 billion.
Marlboro is Altria's leading cigaratte brand. It generated 141.5 billion units in sales for 2008, down 2%. Philip Morris USA had a 50.7% market share for cigarettes in 2008 with Marlboro accounting for 41.6% of total market share nationwide. Other brands include Parliament (1.8% share), Virginia Slims (2.0% share) and Basic (3.9% share).
The company spun off Philip Morris International as a separately traded company in 2008.
Altria moved its headquarters from NYC to Richmond, VA in 2008.
History
Philip Morris, Esq., a tobacconist and
importer of fine cigars, opened a cigar shop on Bond Street in
London in 1847. Philip Morris made his first cigarette in 1854.
Morris died in 1873 and his brother Leopold and wife Margaret
took over the business. The Philip Morris Company went public
in London in 1881 and established a U.S. division in 1902.
With strong sales of tobacco, the company
began manufacturing its own cigarettes by purchasing a factory
in Richmond, VA in 1929.
In 1985, the Philip Morris companies acquired
General Foods for $5.6 billion. In 1988, it acquired Kraft Foods
for $12.9 billion, the largest non-oil acquisition in U.S. history.
The company would also acquire Nabisco holdings in 2000.
In 2002, shareholders voted to change the
name of the company to Altria Group. This new name became official
on January 27, 2003. The name Altria derives from the Latin word
"altus", meaning high. To the Altria family of
companies, it connotes an enterprise that aims for peak performance
and constant improvement.
It's widely believed that the company name
was changed from Philip Morris to deflect criticism and unpopularity
with investors over association with cigarettes. The company
denies this.
In 2007, Altria officially spun off Kraft
Foods as a separately-traded company.
Benefits
Philip Morris provides the following benefits:
- Health & welfare coverage such as
medical, dental, vision and prescription
- Retirement initiatives such as deferred profit sharing, healthcare
and life insurance
- Protection benefits such as disability, business travel and
survivor income
- Work-life programs such as Flexible spending, dependent care
and education refunds
- Perks such as local discounts, on-site fitness centers and
credit union membership
You can find info about benefits Philip
Morris here.
Updated January 31, 2009
|
