HENRICO COUNTY (dpa-AFX) - Altria Group Inc. (MO), a tobacco company, on Monday announced that its subsidiary Philip Morris USA Inc. entered into a contract manufacturing arrangement with non-U.S. affiliates of Philip Morris International Inc. (PM) to enhance the efficiency of its traditional tobacco product operations.
The company said that the arrangement is expected to generate economic benefits to support investment in the company's growth initiatives and strengthen operational capabilities.
The company does not expect the arrangement to have a material impact on its 2026 financial results.
Altria and Philip Morris International will continue to operate independently and remain responsible for their respective commercialization, distribution and regulatory activities
In the pre-market trading, Altria Group is 0.59% higher at $66.47 on the New York Stock Exchange.
In the pre-market trading, Philip Morris International is 0.84% higher at $189.80 on the New York Stock Exchange.
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