Manufactured in the Philippines by Philip Morris and Fortune Tobacco Corp. Price per Carton or 200 cigarettes. New art work 6/2014
Fortune Tobacco Corporation is the leading cigarette manufacturer in the Philippines and one of the five largest privately-held cigarette manufacturers in the world. Started in a small building with only second hand machines in Marikina. The structure which houses the plant was made of old scrap lumber and GI sheets. The company is a part of the Lucio Tan Group of Companies, founded and owned by the second richest Filipino, Lucio Tan. In 2010, Philip Morris Philippines Manufacturing Inc. and Fortune Tobacco entered a 50-50 joint venture and created a new corporation called Philip Morris Fortune Tobacco Corporation (PMFTC). The partnership will translate into a 90% market share for PMFTC since Fortune Tobacco accounts for 60% of the market share while Philip Morris holds the 30%.
In the year 2000, with the liberalization of the investment climate in the Philippines, Philip Morris Inc. reached a decision to invest US$300 million to build a state-of-the-art cigarette manufacturing plant in the Philippines. It was the single biggest investment of PMI in the Asia-Pacific region at the time. In the same year, Philip Morris Philippine Manufacturing Inc. (PMPMI) was established to handle all aspects of the business in the Philippines, including manufacturing operations.Commercial production at the Philippine factory started in 2003. Today, the factory rolls out more than 30 billion sticks a year. PMPMI also started exporting Marlboro and L & M cigarettes to Thailand in 2003. Number of Employees: Approximately 4,000.
A landmark development took place in Feb. 25, 2010. PMPMI and Fortune Tobacco Corporation (FTC) entered into an agreement to combine their business operations and selected assets in a new company called PMFTC Inc. PMFTC is the market leader in the local cigarette industry with over 90% percent share of the adult cigarette market. PMFTC manufactures and distributes the leading mid- and low-price brands such as Champion, Fortune, and Hope as well as established PM international flagship brands led by Marlboro and Philip Morris. Main Brands: Marlboro, Philip Morris, Hope, Fortune, Champion, Bowling Gold, Miller, and Stork.
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