Altria Group

By: EconomyWatch   Date: 17 July 2010

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In 2008, Altria Group was ranked #88 by Forbes in its list of largest, global public companies. This business group ranked well on parameters like profits and market value, which enabled it to obtain a high Forbes Global 2000 rank.
Altria Group headquarters is located in Henrico County, Virginia. Companies owned by Altria Group include Philip Morris USA, John Middleton, and Philip Morris Capital Corporation. Altria Group is better known for its cigars and tobacco products. But investment division also plays a significant role in company business.

Brief history
Altria Group was formally established in 1985. But history of this business entity can be traced as far back as mid-19th century when Philip Morris Companies Inc. came into being. In 1985, organizational restructuring of Philip Morris Companies Inc. took place, as a result of which Altria Group became parent company of Philip Morris USA.

Products
Philip Morris USA is biggest tobacco company operating in United States of America. John Middleton manufactures large cigars and pipe tobacco. Popular tobacco brands offered by Altria Group include Marlboro, L&M, Parliament, Virginia Slims, Basic, and Black & Mild. Philip Morris Capital Corporation, an investment company, offers direct and leveraged finance lease investment products. Altria Group also holds 28.5 percent stakes in SABMiller, which is 2nd largest brewer in world.

Financials
In 2007, total sales conducted by Altria Group amounted to around $23.149 billion. Profits generated by this business group was about $6.439 billion. In 2007, Altria Group held assets worth nearly $20.67 billion. Employee count of this group was about 84,000.

Awards and recognition
In 2003, Altria Group was presented with Leadership Award by Safe Horizon.

Current financial crisis
Altria Group has not succeeded in remaining immune to global financial turmoil. In November 2008, media reports indicated that Atria Group companies are likely to opt for retrenchments to cut-costs.



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