Altria

By: Alternix

Company Overview and History

Altria Group, Inc. is an American corporation in the tobacco industry.
It is one of the largest producers and marketers of tobacco, cigarettes, and related products globally.
Altria operates worldwide and is headquartered in Henrico County, Virginia.
The company is publicly traded on the NYSE under the ticker symbol MO.
It is a component of the S&P 500 index.
Altria emerged from Philip Morris Companies in 2003.
The rebranding was done to emphasize a diversified business portfolio beyond tobacco.
The name 'Altria' was chosen to mask the negatives associated with the tobacco industry.
Altria sold its stake in Kraft Foods in 2007 and completed the spin-off of Philip Morris International in 2008.
The company acquired cigar manufacturer John Middleton Co. in 2008.

In 2006, Altria and other tobacco companies were found guilty of misleading the public about the dangers of smoking.
Defendants altered the chemical form of nicotine in cigarettes to increase addiction.
Altria's stake in Kraft Foods was spun off in 2007, and its shares of Philip Morris International were sold in 2008.
The company faced social, legal, and financial troubles during the rebranding process.
The acquisition of UST Inc. in 2009 marked the end of competition between Marlboro smokeless tobacco products and UST's products.
In August 2006, Altria was found guilty of civil fraud and racketeering.
Lawsuit claimed Altria's marketing of light and low tar cigarettes constituted fraudulent misrepresentations.
Altria admitted to making cigarettes more addictive in advertisements.
Altria was involved in the United States v. Philip Morris lawsuit.
Altria's use of ammonia in cigarette tobacco was studied for its effect on nicotine absorption.

Altria acquired a 45% stake in Cronos Group, a Canadian cannabis company, in 2018.
It finalized the acquisition of a 35% stake in JUUL Labs, an e-cigarette company, in the same year.
The company took a $4.5 billion writedown on its stake in JUUL in 2019.
Altria invested in Swiss tobacco company Burger SÃ¶hne in 2019.
A joint venture called Horizon Innovations LLC was announced with Japan Tobacco in 2022.

In fiscal year 2020, Altria reported earnings of $4.45 billion and annual revenue of $26.15 billion.
The company's shares traded at over $66 per share.
Its market capitalization was valued at over $118.5 billion in October 2018.
Altria ranked 154th on the Fortune 500 list of the largest US corporations by revenue in 2018.
The company's financial performance has seen fluctuations over the years.

Elizabeth E. Bailey, professor emerita, the Wharton School, University of Pennsylvania
Gerald L. Baliles (2008â€“2019), director, Miller Center of Public Affairs at University of Virginia; former Virginia governor
Martin Barrington, chairman and CEO, Altria Group, Inc.
John T. Casteen III (2010â€“ ), president emeritus, University of Virginia
Dinyar S. Devitre (2008â€“ ), special advisor, General Atlantic Partners, New York, NY; former SVP and CFO of Altria
Former Altria Headquarters in Manhattan, New York
Philip Morris moved its headquarters to Virginia in 2003, saving over $60 million annually
Altria's current head offices are in an unincorporated area of Henrico County, Virginia
Altria has a 450,000-square-foot, $350 million Center for Research and Technology in downtown Richmond
The center employs approximately 600 scientists, engineers, and support staff
Altria spent around $101 million on lobbying the US government between 1998 and 2004
Altria funded The Advancement of Sound Science Coalition, which lobbied against the scientific consensus on climate change
Daniel Smith, representing Altria, sits on the Private Enterprise Board of the American Legislative Exchange Council

Reference	URL
Glossary	https://www.alternix.com/blogs/glossary-of-terms/altria
Wikipedia	http://en.wikipedia.org/wiki/Altria
Wikidata	https://www.wikidata.org/wiki/Q445007
Knowledge Graph	https://www.google.com/search?kgmid=/m/0dv3x