Fortune tobacco

PMFTC, Inc.
Type Private
Founded 1966 (Fortune Tobacco)
1995 (Philip Morris PHL)
2010 (merger)
Headquarters Tanauan, Batangas (main plant)
Marikina City (second plant, formerly FTC main plant)
Makati City (head office)
Key people Lucio Tan (founder/chairman)
Products cigarettes
Owner(s) Philip Morris International
Lucio Tan Group
(joint venture)
Employees 4,000+
Parent Philip Morris International

PMFTC, Inc., formerly Fortune Tobacco Corporation is a private Philippine tobacco company that produces cigarettes, and with sister companies Tanduay Distillers and Asia Brewery, produces beer, liquor and bottled water. Originally the company was majority-owned by businessman Lucio Tan, who established it in 1966 and was controlled by the Philippine government, after it was seized by the Presidential Commission on Good Governance in 1987, when the Sandiganbayan returned the company to Tan.

In February 2010 the company joined Philip Morris International. Philip Morris Philippines Manufacturing Inc. (PMPMI), an affiliate of PMI (Philip Morris International), and Fortune Tobacco Corporation (FTC), have signed an agreement to unite their respective business activities by transferring selected assets and liabilities of PMPMI and FTC to a new company to be called PMFTC, with each party holding an equal economic interest. The Chairman of PMFTC will be Mr. Lucio Tan, currently Chairman of FTC. PMI will manage the day-to-day operations of PMFTC.

External links

  • Philip Morris International's homepage
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