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• PMI Aims to Reverse Decline in Marlboro Shipments (Update1) 

Philip Morris International Inc., the world's largest cigarette maker outside of China, aims to reverse a decline in Marlboro shipments, Chief Operating Officer Andre Calantzopoulos said.

A joint venture with China's state-owned tobacco company remains on track to start local sales of the brand this summer, he also said, though it probably will have no ``material'' effect on sales by volume.

PMI ``strongly believes'' it can return Marlboro to a ``growth path'' after first-quarter volumes dropped 1.2 percent, Calantzopoulos told investors today at a tobacco conference in London. The New York-based company aims to keep the brand's market share in Europe ``stable'' this year, he said.

China consumes about 2 trillion cigarettes a year, a third of the world's total

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