Philip Morris International Strategy Essay
Final Exam of Multinational Corporation’s Global Strategy Philip Morris International Strategy of Expansion in Philippines By Mailin / 1801377465 Philip Morris International is a multinational company that based in United States which employs in the manufacture and sales of cigarette and tobacco products since 1847. The corporate headquarter is in New York however its operational headquarters are in Lausanne, Switzerland. Philip Morris International operates 48 production facilities in 32 different countries (Philip Morris International Website), including Philippines. According to Fortune, Philip Morris International is ranked 100 with total revenues around $31,217 million, profits of $ 8,756 million and total asset of $ 38,168 million. In …show more content…
Philip Morris International had come up with a licensing agreement with local tobacco manufacturer La Suerte Cigar & Cigarette Company to manufacture and sell Marlboro in Philippines. In order to handle all sales and marketing in Philippines, in 1995, Philip Morris International was established Philip Morris Philippines Inc. (PMPI). In 2002, Philip Morris International ended their contract with La Suerte Cigar & Cigarette Company. On the other hand, Philip Morris International was established Philip Morris Philippines Manufacturing Inc. (PMPMI) to take over all manufacturing and operations of Philippine businesses. Philip Morris Philippines Manufacturing Inc. has one factory in Tanauan, Batangan that was started in 2003. The most popular and best selling product of the company is Marlboro. In 2010, Philip Morris Philippines Manufacturing Inc. and Fortune Tobacco Corporations was come up with an agreement to unite their business, named PMFTC, Inc. . Fortune Tobacco Corporations is one of the most influential domestic tobacco companies in Philippines. When both of the companies agreed to make a joint-venture company, it takes control of 90% tobacco industry in Philippines. Both of the companies were holding an equal economic interest to achieve their interest in this country. The chairman of the company was still Lucio Tan on the other hand Philip Morris International still manage day-to-day
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