PMFTC
| Private | |
| Founded | 2010 |
| Headquarters |
Makati City (head office) Tanauan, Batangas (main plant) Marikina City (second plant, formerly FTC main plant) |
|
Key people
|
Lucio C. Tan, Sr. (Chairman) Paul Riley (President) |
| Products | Cigarettes |
| Owner | Philip Morris Philippines Manufacturing, Inc. (50%) Fortune Tobacco Corporation (50%) |
|
Number of employees
|
4,000+ |
| Parent |
Philip Morris International LT Group, Inc. |
PMFTC, Inc. is a joint-venture company between Philip Morris Philippines Manufacturing, Inc. (PMPMI) and Fortune Tobacco Corporation (FTC). The company controls over 90% of the Philippine cigarette market.
On February 25, 2010, both companies signed an agreement to unite their respective business activities by transferring selected assets and liabilities of both companies a new company namned PMFTC, Inc., with each party holding an equal economic interest. Lucio Tan serves as the chairman of PMFTC, Inc., while day-to-day operations is managed by Philip Morris International (PMI). PMPMI will retain its export business, while FTC will keep its interest in the distribution of the Winston brand of Japan Tobacco. PMFTC would not be affected by pending tax and ownership disputes with local courts involving FTC.
In 1955, Philip Morris International entered into a licensing agreement with La Suerte Cigar and Cigarette Factory to manufacture and sell Marlboro cigarettes in the Philippines.
Fortune Tobacco Corporation (FTC) was established in 1966.
In 1995, Philip Morris Philippines, Inc. (PMPI) was established to handle all sales and marketing aspects related to the Marlboro and Philip Morris brands.
In 2002, the licensing agreement with La Suerte was terminated and Philip Morris Philippines Manufacturing, Inc. (PMPMI) was established to handle all aspects of the Philippine business, including manufacturing operations. PMPI was subsequently merged with PMPMI. A new factory located in Tanauan, Batangas was inaugurated by PMPMI in 2003.
On February 2010, PMFTC, Inc. was established.
PMI brands:
FTC brands:
...
Wikipedia