Philip Morris Pakistan
TypePublic
PSX: PMPK
IndustryTobacco
Founded1969 (1969)[1]
Headquarters
Karachi
,
Pakistan
ProductsCigarettes
ParentPhilip Morris International
Websitewww.pmi.com/markets/pakistan/en/about-us/overview

Philip Morris Pakistan is a Pakistani tobacco manufacturing company which is a subsidiary of Philip Morris International. It is headquartered in Karachi, Pakistan. The company is involved in the manufacturing and sale of cigarettes and tobacco products.[2]

It is the second-largest tobacco company in Pakistan after Pakistan Tobacco Company.[3]

History

The company was founded in 1969 as Lakson Tobacco.[2]

In 2007, Philip Morris International acquired the company by increasing its shareholding to 97 percent.[4]

In 2015, the company shut down its plant in Mandra, Rawalpindi District due to rising costs and smuggling of tobacco in Pakistan.[5] 141 employees lost their jobs.[6]

In 2019, the company announced that they are shutting down Kotri plant in order to restructure their finances.[7] As a result, 193 employees lost their job.[7]

Factories

In the past, the company operated in more than five locations, but to due smuggling and rising cost it shut down in three locations.[8] The company currently operates two factories in following cities:

See also

References

  1. ↑ "PMI takes over Lakson Tobacco". DAWN.COM. March 10, 2007.
  2. 1 2 "Philip Morris (Pakistan) Limited – Business Recorder".
  3. ↑ Iqbal, Shahid (January 20, 2007). "PMI buys 50.21pc stakes in Lakson: Rs20.62 billion deal". DAWN.COM.
  4. ↑ "Philip Morris acquires Pakistan's Lakson Tobacco". Reuters. March 9, 2007 – via www.reuters.com.
  5. ↑ "Philip Morris shuts cigarette production unit in Pindi". The Nation. February 17, 2015.
  6. ↑ "After closing plant Philip Morris now fires 141 employees". The Nation. November 23, 2015.
  7. 1 2 3 4 "Philip Morris shuts down tobacco manufacturing facility". www.thenews.com.pk.
  8. ↑ Hussain, Dilawar (April 9, 2008). "Philip Morris investment blows up in smoke". DAWN.COM.
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