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Philip Morris International Inc restructures its business in Egypt

Wednesday, 29 Jan 2014 06:06pm EST

Philip Morris International Inc:Decides, as part of its initiative to enhance profitability and growth in North African and Middle Eastern markets, to restructure its business in Egypt.Says the new business model entails a new contract manufacturing agreement with its long-standing, strategic business partner, Eastern Company S.A.E., the creation of a new PMI affiliate in Egypt and a new distribution agreement with Trans Business for Trading and Distribution LLC.Says that, to accomplish this restructuring and ensure a smooth transition to the new model, PMI will record, in the fourth quarter of 2013, a charge to its 2013 full-year reported diluted earnings per share of about $0.10 to reflect the discontinuation of existing contractual arrangements.

Hanjaya Mandala Sampoerna Tbk PT liquidates a unit in Malaysia-Bisnis Indonesia - Reuters

Sunday, 5 Jan 2014 08:23pm EST

Hanjaya Mandala Sampoerna Tbk PT:Says it has closed down its unit in Malaysia, PT Sampoerna Joo Lan Sdn Bhd, corporate - Reuters.Says the company is currently preparing a liquidation plan for several units.

Japan Tobacco Inc Announces Restructuring of Tobacco Business

Wednesday, 30 Oct 2013 02:00am EDT

Japan Tobacco Inc announced that it will reduce sub-branches from 25 sub-branches to 15 sub-branches effective April 1, 2015. The Company will also close several factories and business centers by the end of March 2015. The Company will offer an early-retirement program along with the business restructuring. The Company expects 1,600 employees to take up the offer.


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