PMFTC, Inc. is the

Philippine The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...

affiliate of

Philip Morris International Philip Morris International Inc. (PMI) is an American Multinational corporation, multinational tobacco company, with products sold in over 180 countries. The most recognized and best selling product of the company is Marlboro. Philip Morris I ...

(PMI). Owned 50-50 by PMI and local conglomerate

LT Group LT Group, Inc. () is a publicly listed holding company of Chinese Filipino business tycoon Lucio C. Tan in the Philippines. LT Group, Inc. is majority-owned by Tangent Holdings Corporation, its ultimate parent company (also controlled by Tan). ...

, PMFTC is the leading

cigarette A cigarette is a narrow cylinder containing a combustible material, typically tobacco, that is rolled into thin paper for smoking. The cigarette is ignited at one end, causing it to smolder; the resulting smoke is orally inhaled via the opp ...

manufacturer in the Philippines, controlling over 90% of the local market, commercialising the brands Hope Luxury,

Marlboro Marlboro (, ) is an American brand of cigarettes, currently owned and manufactured by Philip Morris USA (a branch of Altria) within the United States and by Philip Morris International (now separate from Altria) outside the US. The largest Marl ...

, and

More More or Mores may refer to: Computing * MORE (application), outline software for Mac OS * more (command), a shell command * MORE protocol, a routing protocol * Missouri Research and Education Network Music Albums * ''More!'' (album), by Booka S ...

, among others. The company is a joint-venture between the Philippine unit of PMI and local firm Fortune Tobacco Corporation (FTC), which joined forces in 2010 to form a new company that, after the agreement, would control the 90% of the market.

History

In 1955, Philip Morris International entered into a licensing agreement with La Suerte Cigar and Cigarette Factory to manufacture and sell

cigarettes in the Philippines. Fortune Tobacco Corporation (FTC) was established in 1966 founded by Benito Tan Kee Hiong, Atty. Florencio N. Santos, Lucio Tan and Mariano Tanenglian. In 1995, Philip Morris Philippines, Inc. (PMPI) was established to handle all sales and marketing aspects related to the Marlboro and Philip Morris brands. In 2002, the licensing agreement with La Suerte was terminated and Philip Morris Philippines Manufacturing, Inc. (PMPMI) was established to handle all aspects of the Philippine business, including manufacturing operations. PMPI was subsequently merged with PMPMI. A new factory located in

Tanauan, Batangas Tanauan, officially the City of Tanauan ( fil, Lungsod ng Tanauan), is a 2nd class component city in the province of Batangas, Philippines. According to the 2020 census, it has a population of 193,936 people. It is incorporated as a city under ...

was inaugurated by PMPMI in 2003. On February 25, 2010, PMI and Fortune Tobacco Corporation (FTC) signed an agreement to unite their respective business activities by transferring selected assets and liabilities of both companies a new company named "PMFTC, Inc.", with each party holding an equal economic interest.

Lucio Tan Lucio Chua Tan Sr. (; born July 17, 1934) is a Filipino business magnate, investor, and philanthropist. He presides over the Filipino conglomerate company LT Group, Inc., a company with extensive business interests in sports, banking, airline ...

served as the chairman of PMFTC, Inc., while day-to-day operations was managed by PMI. The agreement stated that PMI retained its export business, while FTC kept its interest in the distribution of the Winston brand of

Japan Tobacco Hepburn: ''Nippon Senbai Kōsha'' , type = 1985-: Public (''kabushiki gaisha'') 1949-1985: Statutory corporation , traded_as = , industry = FoodTobacco , foundation = 1898 (as Imperial Japanese Tobacco Company)1 June 1949 (as Japan Tobacco ...

. PMFTC would not be affected by pending tax and ownership disputes with local courts involving FTC.

Brands

PMI brands

* Bowling Gold * Bowling Green *

Chesterfield Chesterfield may refer to: Places Canada * Rural Municipality of Chesterfield No. 261, Saskatchewan * Chesterfield Inlet, Nunavut United Kingdom * Chesterfield, Derbyshire, a market town in England ** Chesterfield (UK Parliament constitue ...

* L&M *

* Miller * Philip Morris * Stork

FTC brands

* Boss * Champion * Fortune International * Hope Luxury * Jackpot International * Mark *

* Salem - under license * Terra * Westpoint

References

External links

PMFTC, Inc.
on PMI
PMFTC
on LT Group {{LT Group Tobacco companies of the Philippines Philippine companies established in 2010 Companies based in Makati Philip Morris International