PMFTC
Philippine affiliate of Philip Morris International
title: "PMFTC" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["tobacco-companies-of-the-philippines", "philippine-companies-established-in-2010", "companies-based-in-taguig", "companies-based-in-batangas", "companies-based-in-marikina", "philip-morris-international", "lt-group-subsidiaries", "philippine-subsidiaries-of-foreign-companies"] description: "Philippine affiliate of Philip Morris International" topic_path: "geography/philippines" source: "https://en.wikipedia.org/wiki/PMFTC" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0
::summary Philippine affiliate of Philip Morris International ::
::data[format=table title="Infobox company"]
| Field | Value |
|---|---|
| name | PMFTC, Inc. |
| logo_size | 250 |
| type | Subsidiary |
| foundation | |
| location | 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) | |
| products | Cigarettes |
| num_employees | 4,700 |
| parent | Philip Morris International |
| LT Group | |
| brands | {{nowrap |
| :: |
| name = PMFTC, Inc.
| logo =
File:PMFTC Inc. Logo.png
| logo_size = 250
| type = Subsidiary
| foundation =
| location = 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)
| products = Cigarettes
| revenue =
| net_income =
| num_employees = 4,700
| owner =
| parent = Philip Morris International
LT Group
| brands = {{nowrap|
- Chesterfield
- Fortune International
- Hope Luxury
- Marlboro
- More
- Philip Morris | subsid = | homepage = PMFTC, Inc. is the Philippine affiliate of Philip Morris International (PMI). Owned 50-50 by PMI and local conglomerate LT Group, PMFTC is the leading cigarette manufacturer in the Philippines, controlling over 90% of the local market, commercialising the brands Marlboro, Chesterfield, Fortune International, Hope Luxury, and More, 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 Marlboro 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 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 to a new company named PMFTC, Inc., with each party holding an equal economic interest. The agreement stated that PMI retained its export business, while FTC kept its interest in the distribution of the Winston brand of Japan Tobacco. PMFTC would not be affected by pending tax and ownership disputes with local courts involving FTC.
On June 1, 2021, when PMFTC Inc., which the group indirectly owns through Fortune Tobacco Corporation, obtained board approval to merge with Philip Morris Philippines Manufacturing, Inc. and PMFTC would be the surviving corporation.
Brands
PMI brands
- Bowling Gold
- Bowling Green
- Chesterfield
- L&M
- Marlboro
- Miller
- Philip Morris
- Stork
- IQOS
- ZYN
FTC brands
- Boss
- Champion
- Fortune International
- Hope Luxury
- Jackpot International
- Mark
- More
- Salem - under license
- Terra
- Westpoint
- Two Moon
- Camel
References
References
- (April 20, 2024). "PMFTC elects new president".
- [https://www.pmi.com/markets/philippines/en/about-us/overview Overview PMI Philippines] on PMI website
- [https://ltg.com.ph/organizational-chart/ Organizational Chart] on LTG website (Sep 15, 2020)
- [https://ltg.com.ph/pmftc/ PMFTC] on LTG
- News, ABS-CBN. "Philip Morris, Fortune Tobacco form joint venture".
- (February 25, 2010). "Philip Morris International Inc. (PMI) Announces New Business Transaction in the Philippines". Philip Morris (press release).
::callout[type=info title="Wikipedia Source"] This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page. ::