reuters.com

Altria and Philip Morris sign contract manufacturing deals

Altria Group logoAltria Group
Sig2.16Sen+1.13Env-0.03Soc-0.18Gov0.00
Philip Morris International logoPhilip Morris International
Sig2.21Sen+1.46Env+0.20Soc+0.44Gov+0.03

Philip Morris International and Altria entered contract manufacturing arrangements with one another, with Altria aiming to expand cigarette imports and exports. The deal is tied to Altria’s use of the double duty drawback tax rebate, which allows U.S. exporters to reclaim federal excise taxes and could boost profits.

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