PMFTC
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PMFTC, Inc. is the Philippine affiliate of Philip Morris International (PMI). Owned 50-50 by PMI and local conglomerate LT Group,[4] PMFTC is the leading cigarette manufacturer in the Philippines, controlling over 90% of the local market, commercialising the brands Fortune International, Hope Luxury, Marlboro, and More, among others.[3]
Quick Facts Company type, Founded ...
Company type | Subsidiary |
---|---|
Founded | February 25, 2010; 14 years ago (2010-02-25) [1] |
Headquarters | Taguig (head office) Tanauan, Batangas (main plant) Marikina (second plant, formerly FTC main plant) |
Key people | Lucio C. Tan, Sr. (Chairman) Gijs Lambert Johan de Best (President)[2] |
Products | Cigarettes |
Brands |
|
Number of employees | 4,700 [3] |
Parent | Philip Morris International LT Group |
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The company is a joint-venture between the Philippine unit of PMI and local firm Fortune Tobacco Corporation (FTC),[5] which joined forces in 2010 to form a new company that, after the agreement, would control the 90% of the market.[1]