On the Call: Philip Morris Int'l CFO Waldemer - CNBC: "Supply disruptions for rivals following the earthquake and tsunami in Japan in March 2011 allowed Philip Morris International Inc. to extend its reach in Asia.
About a year after Philip Morris bought Fortune Tobacco Co. in the Philippines, the disaster struck and disrupted operations at Japan Tobacco Inc.
Philip Morris produces its cigarettes outside of Japan and shipments to ports went on unabated. Smokers, unable to get their usual brand, switched to Marlboro and other Philip Morris brands.
In the second quarter this year, Philip Morris saw cigarette shipments in Asia fall less than 1 percent to 83.5 billion cigarettes. In Japan, shipment volume fell nearly 20 percent, but was up by about the same rate excluding the additional volume in the year-ago period."
'via Blog this'
About a year after Philip Morris bought Fortune Tobacco Co. in the Philippines, the disaster struck and disrupted operations at Japan Tobacco Inc.
Philip Morris produces its cigarettes outside of Japan and shipments to ports went on unabated. Smokers, unable to get their usual brand, switched to Marlboro and other Philip Morris brands.
In the second quarter this year, Philip Morris saw cigarette shipments in Asia fall less than 1 percent to 83.5 billion cigarettes. In Japan, shipment volume fell nearly 20 percent, but was up by about the same rate excluding the additional volume in the year-ago period."
'via Blog this'
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