BUSINESS
September 9, 2008 | From the Associated Press
Altria Group Inc., the U.S. leader in cigarettes, wants to be No. 1 in smokeless products too. The owner of the nation's biggest cigarette seller said Monday that it would buy UST Inc., the maker of Skoal and Copenhagen, in a $10.4-billion deal that is part of the wider consolidation of the global tobacco industry. Observers say Lorillard, which was spun off from Loews Corp. in June, could be next on the list of potential targets. "It's going to put pressure on everybody else to consolidate," said Sachin Shah, an analyst at ICap Equities.
BUSINESS
June 24, 2008 | From the Associated Press
Philip Morris USA, the nation's No. 1 tobacco company, said Monday that it had ended test markets of Marlboro-branded cigarettes that use a high-technology filter to potentially reduce the risk of smoking. The operating company of Altria Group Inc. said it pulled the plug on Marlboro Ultra Smooth and Marlboro Ultra Light cigarettes, which used an activated carbon filter to deliver nicotine with potentially less exposure to carcinogens than in conventional cigarettes.
BUSINESS
May 3, 2008 | From Times Wire Services
Philip Morris USA effectively raised the price on Marlboro, Basic, L&M and most of its other cigarette brands by 9 cents a pack. The company, a unit of Altria Group, raised the price on Marlboro, Basic and L&M by reducing the promotional discount given to wholesalers on those brands. Reductions in promotional discounts are typically passed on to consumers in the form of higher prices. The average price for a pack of Marlboro cigarettes, the top-selling U.S. brand, had been $4.27 in the first quarter.
BUSINESS
November 13, 2007 | From the Associated Press
The nation's largest tobacco company knew as early as the 1970s that smokers of "light" cigarettes took larger puffs that delivered greater amounts of tar, according to a newly released memo. The 1975 Philip Morris USA correspondence was released by the Senate Commerce Committee in advance of a hearing today examining the rating system that allows tobacco companies to market cigarettes as regular, light or ultra-light.
BUSINESS
October 29, 2007 | From the Associated Press
With waning cigarette sales due to health concerns, smoking bans and price increases, Philip Morris USA Inc. is staking its future on a new research center meant to develop products to reduce the risk of tobacco use. The addition of the $350-million, 450,000-square-foot Center for Research and Technology nearly doubles the company's research space and gives its scientists and engineers one facility to collaborate on new projects.
BUSINESS
August 22, 2007 | From Times Wire Services
Philip Morris USA said it would introduce a moist smokeless tobacco product this fall under the Marlboro brand, selling it first in the Atlanta area. The Richmond, Va.-based company will sell the spitting tobacco in original and wintergreen flavors for about $3 a can. It is part of a wider effort to sell more smokeless products in the U.S. as cigarette consumption declines because of health concerns, smoking bans and price increases. Philip Morris USA is owned by New York-based Altria Group.