Posts tagged: Philip Morris International

Supreme Court sides with N.B. rulings in tobacco lawsuit

Tweet The Supreme Court of Canada has dismissed with costs the leave-to-appeal applications of several tobacco manufacturers seeking to overturn key rulings of New Brunswick courts. Imperial Tobacco Canada, Rothmans, Benson & Hedges, Philip Morris International and other companies sought to overturn previous decisions of the New Brunswick Court of Appeal and the New Brunswick Court of Queen’s Bench in the provincial government’s ... Jump to full article >>

Clemson awarded $360,000 by Philip Morris International

Tweet Philip Morris International has awarded $360,000 to Clemson University for tobacco research. The money will be used to hire a plant scientist and to build test facilities, enabling research that will help reduce grower costs. The two-year project will be conducted at the Clemson University Pee Dee Research and Education Center in Florence. Plant pathologist Bruce Fortnum, resident director at the Pee Dee center, will lead the research proje ... Jump to full article >>

Philip Morris Int’l signs agreements for tobacco supply in Brazil

Tweet Cigarette maker Philip Morris International says it’s signed deals to buy 10 percent of its tobacco from farmers in Brazil. The world’s largest nongovernmental cigarette seller says it the deal with two leaf suppliers to source tobacco leaf from about 17,000 growers there. As part of the deal, it says it will offer jobs to more than 200 people, most of them agronomy specialists. The agreements with subsidiaries of Alliance One I ... Jump to full article >>

Philip Morris opens new Subic warehouse, sees sales growth

Tweet THE LOCAL arm of cigarette maker Philip Morris International expects sales to the domestic market to grow by 2%-4% this year, better than the flat performance in 2009. But it warned that if the Finance department pushes through with a new system to track tax payments, industry-wide sales might fall further, after recording a 10%-15% decline last year. “I’m hoping this year will be better. We will grow in line with the industry … w ... Jump to full article >>

Philip Morris Faces Japan Tax on Tobacco

Tweet Philip Morris International shouldn’t be too negatively affected by Japan’s proposal to raise taxes on tobaccco, according to Stifel Nicolaus. The proposed legislation includes a tax increase of 70 yen (76 cents) per pack and is accompanied by a 5 yen per cigarette or 100 yen per pack increase in the market, writes Stifel Nicolaus in a note. If the legislation goes through and the full price of 100 yen per pack of cigarettes is ... Jump to full article >>

Philip Morris Int’l (PM): Bad Habit, Good Stock

Tweet “Investors should Philip Morris International to light up your returns and cash in on the growth of the global tobacco market,” says Gregory Dorsey. In Leeb’s Performance Income Letter, he explains, “The stock, a new addition to our Growth & Income portfolio, is well positioned to provide solid results over the long haul.” “Philip Morris International owns the international tobacco operations of its ... Jump to full article >>