Sample Term Paper
Another landmark that the company achieved was in the year 1872 when George Eckmeyer who was the only agent of Philip Morris in the United States stared importing English made cigarettes’ in the United States. Soon after that the ownership of the company was divided at 50-50 between the British and the American partners. Following this some of their brands which included Philip Morris, blues, Cambridge, and Derby were sold. Marlborough which is the most popular brand of the company was named after the London Street on which on which their factory was located. After the company had its roots in America they purchased a factory in Richmond, Virginia in the year 1929 where they started their own production of cigarettes’.
Philip Morris International was established in the year 1961 in an age when the US tobacco business was already quiet recognized Philip Morris began their operations. Initially the company had operations in Australia, South America, Germany, France, Italy, and Canada.
In the year 1968 the company was granted a license that granted the company to manufacture cigarettes in France, Spain, Indonesia and Japan (Byrne, 1999).
In 1972 after getting licenses in these countries the international volume of the company increased to 113 billion. During 1979 Philip Morris extended their business and went over the eastern part of the Europe. This extension was helped by the liscence agreement which was signed by the company officials in Hungry and Czechoslovakia. Soon after that in the year 1983 PMI became the largest US based international tobacco company and soon after that in 1984 its international total volume reached 244.8 billion cigarettes.
In 2007 PMI, acquired 50.2% stake in Pakistan cigarette manufacturer Lakson Tobacco Company. In the same year 30% stakes were bought in the Mexico tobacco industry and a joint venture was started with partner Group Carso (Datamonitor, 2009).
In the year 2008 the collaboration which started between Altria group and PMI back in 2003 broke up. The Altria group started operating as an independent company and in the same month their shares started trading on the New York Stock Exchange. This move allowed PMI to develop a wide range of new products for their foreign consumers which they were not able to do because of the limitations and other obligations that were imposed upon them by the US courts.
The development of Philip Morris is still on the run with their latest venture that has occurred is the acquisition of Rothmans a Canadian tobacco company. All these ventures and business enterprises proves one thing that the company’s development is on the rise and further more the company is undoubtedly is the leader in its particular industry.
The company owns almost 58 factories throughout the world and the same standards are applied where ever they are engage in cigarette production. As Philip Morris has became a brand name and it is valued around the world, the company ensures that they are able to maintain their premium quality to the optimum level which the consumers expects, and on the basis of which the company is in a position of market leader (PMI, 2010).
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