UK: Philip Morris announces business restructure

Philip Morris, the tobacco giant is planning to restructure its business operations to phase out conventional cigarettes, focusing on less harmful alternatives such as electronic cigarettes and heated tobacco products, according to a report in the Times

The company is said to be planning to create a single multi-category business, integrating its cigarette, heated tobacco and e-cigarette operations in PM Limited (UK and Ireland).

In a "commitment to a smoke-free future", Philip Morris is focusing its efforts on its e-vapour brands such as Vivid, Nicocig and Mash, and heated tobacco products Iqos - its "heat-not-burn" product.

Peter Nixon, Philip Morris UK and Ireland managing director said: "Bringing all our operations together creates a true multi-category business enabling us to increase our focus on driving adoption of alternatives to smoking, such as electronic cigarettes and heated tobacco products".

PM Limited (UK and Ireland) will have more than 300 employees, after the integration with Nicocigs Limited.

Source: The Times