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June 03, 2015 8:29 PM ET

Tobacco

Company Overview of Philip Morris USA Inc.

Company Overview

Philip Morris USA Inc. manufactures cigarettes and smokeless tobacco. It offers its products through retailers. Philip Morris USA Inc. was formerly known as Philip Morris Domestic and changed its name to Philip Morris USA Inc. in January 1968. The company was founded in 1847 and is based in Richmond, Virginia. It has additional offices and manufacturing facilities in Richmond, Virginia; and Clyde Park, Montana. Philip Morris USA Inc. operates as a subsidiary of Altria Group Inc.

6601 West Broad Street

Richmond, VA 23230-1701

United States

Founded in 1847

Phone:

804-274-2000

Fax:

804-484-8231

Key Executives for Philip Morris USA Inc.

Chief Executive Officer and President
Age: 43
Senior Vice President of Smokeable Manufacturing
Vice President and General Manager of Marlboro
Compensation as of Fiscal Year 2014.

Philip Morris USA Inc. Key Developments

Dominion Partners with Philip Morris for Solar Installation in Virginia

Dominion Virginia Power has partnered with Philip Morris USA for solar installation in Virginia. Dominion is currently installing about 8,000 ground-mounted solar panels at the PM USA Park 500 facility on Bermuda Hundred Road in Chesterfield County. When completed, the 2,450 kW solar array will generate enough electricity under optimum conditions to power 500 homes. Dominion Virginia Power already has completed solar installations at the Canon Industrial Resource Technologies facility in Gloucester, Old Dominion University in Norfolk, and Virginia Union University and Capital One in Richmond. These facilities and others under construction represent a total of 4.8 megawatts of solar generating capacity. The PM USA solar project is part of Dominion Virginia Power's Solar Partnership Program in which Dominion leases rooftop or ground space at commercial, industrial or public facilities for the installation of solar panels. The program is designed to expand Dominion's understanding of community-based solar energy by studying its impact and assessing its benefits while supporting and encouraging solar energy growth in Virginia. The energy generated by the solar panels is delivered to the power grid. Dominion is authorized to construct and operate up to 30 megawatts of company-owned solar facilities, enough to power up to 7,500 homes. In other solar initiatives, Dominion recently announced 400 megawatts of large-scale solar to be produced in the Commonwealth by 2020. Pending SCC approval the first facility will be built in Fauquier County, Va., and will generate up to 20 megawatts. Dominion now has 744 megawatts of solar generating capacity in development, under construction, or in operation across seven states.

Philip Morris, RJ Reynolds and Lorillard Agree to Pay USD 100 Million to Settle More Than 400 Lawsuits

Philip Morris, RJ Reynolds and Lorillard have agreed to pay USD 100 million to settle more than 400 lawsuits claiming that smoking damaged people's health. A judge awarded a combined USD 100 million (AUD 126.72 million) to the plaintiffs in the lawsuits filed in Florida by smokers or their families, seeking damages for injuries caused by smoking. As part of the settlement, Philip Morris USA, RJ Reynolds Tobacco Company and Lorillard Tobacco Company will collectively pay USD 100 million to the plaintiffs. Under the terms of the agreement, Philip Morris USA and RJ Reynolds will each pay USD 42.5 million to resolve the federal cases. Lorillard will pay USD 15 million. The settlement only involves cases that are pending in federal court, the law firm noted, not cases filed in state court. The tentative agreement is subject to the approval of all the plaintiffs. The settled cases are part of the so-called Engle cases, a Florida class-action lawsuit filed against the cigarette companies in 1994. They were also part of a 2006 Florida Supreme Court decision to decertify the class action, saying the USD 145 billion in punitive damages to the entire group was 'excessive'. However, the top court opened the door to individual lawsuits, and allowed the findings to stand in the case, including that smoking cigarettes harmed health and the tobacco companies had knowingly concealed the health effects of cigarettes or their addictive nature.

Altria Group Inc., Philip Morris USA, R.J. Reynolds Tobacco Co., and Lorillard Inc. Asks Federal Appeals Court to Set Aside Series of Court-Ordered Advertisements

America's tobacco companies asked a federal appeals court to set aside a series of court-ordered advertisements saying they lied about the dangers of smoking. The companies told a three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit that they're willing to pass along factual public health information about cigarettes but said they won't go along with being forced to underwrite an ad campaign that would have the companies brand themselves as liars. In 2006, U.S. District Judge Gladys Kessler ordered the cigarette makers to publicly admit that they had lied for decades about the dangers of smoking. The ruling came after testimony from 162 witnesses, a nine-month bench trial and thousands of findings by the judge that defendants engaged in a massive campaign of fraud. Kessler required the companies to publicly address smoking's adverse health effects, nicotine manipulation and the impact of secondhand smoke. The judge also required the companies address the truth about 'light' and 'low tar' brands and cigarette addiction. The companies in the case include Altria Group Inc., Philip Morris USA; R.J. Reynolds Tobacco Co.; and Lorillard Inc.

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