netrashetty
Netra Shetty
Altria Group, Inc. (NYSE: MO) (previously named Philip Morris Companies Inc.) is based in Henrico County, Virginia, and is the parent company of Philip Morris USA, John Middleton, Inc., United States Smokeless Tobacco, Inc., Philip Morris Capital Corporation, and Chateau Ste. Michelle Wine Estates. It is one of the world's largest tobacco corporations. Philip Morris International was spun off in 2008. In addition, Altria Group, Inc. has a 28.7% economic and voting interest in one of the world's largest brewing companies, UK based SABMiller plc, where it has 3 seats on the 11-person board of directors. It is a component of the S&P 500 and was a component of the Dow Jones Industrial Average until February 19, 2008. The company has its headquarters in unincorporated Henrico County, Virginia, less than five miles West of the city limit of Richmond and less than ten miles from its downtown Richmond buildings.
On January 27, 2003, Philip Morris Companies Inc. changed its name to Altria Group, Inc. On March 30, 2007, a spin out of Kraft Foods subsidiary (publicly traded since 2001) was concluded through distribution of the remaining stake of shares (88.1%) to Altria shareholders. As a result, Altria no longer holds any interest in Kraft Foods. On March 28, 2008 a similar spin out of Philip Morris International was completed with 100% of shares being distributed to Altria shareholders.
On January 6, 2009, Altria Group, Inc. completed the acquisition of UST Inc., a moist smokeless tobacco manufacturer; UST owned Ste Michelle Wine Estates, a wine company.
Steelmaking is a large-scale manufacturing process. Manufacturing involves taking all of the raw materials involved in making steel and turning them into tangible outputs. Producing large quantities reduces the cost of each piece. This is known as 'economies of scale'. In order to test the new steel formula properly during development, Corus needed to find a way of making small batches for testing. Corus also needed to evaluate how, if it won the bid, it would produce the steel on a large scale.
Product testing is an important part of development. The small batches enabled Corus to create prototypes to test and discover how well each met the required specification.
It needed to examine which elements of the steel manufacturing process affected the strength and toughness of the plate. It was important to test various factors to see what impact changes in each would make to the finished product:
the steel chemistry - what ingredients made the steel 'recipe' better?
the reheating conditions - how did the temperature affect the steel?
the rolling schedule - did different mill processes have an effect?
the cooling speed - did the speed of cooling affect the product?
the additional heat treatment processes - would additional heating change its qualities?
The product testing stage enabled Corus to make sure the final product met the required brief from the design team. It used computer modelling software to identify the impact of changes in each factor. By understanding the best combination, Corus came up with the winning formula.
Corus developed the new steel product to help it win the Royal Navy contract. As a result, it benefited in many ways as a side effect of the changes:
By using its existing CI procedures to guide its research and development and testing, Corus developed the new specification of steel required at a competitive price.
Investment in new technologies and equipment, used alongside lean production techniques, enabled Corus to minimise levels of waste and reduce high manufacturing costs.
It was able to meet customer deadlines, a vital element of making a business' operations more competitive.
The steelmaking industry also benefited. Corus adopts a practice of benchmarkingas part of its continuous improvement. It shares its best practice across the industry. Other steel businesses can now use the best methods of production to raise quality across the whole sector.
Quality assurance is a vital requirement of continuous improvement, especially in the shipbuilding industry. Steel products for this industry require approval by shipping classification societies, such as Lloyds Register of Shipping. This independent body carries out its own assessment of the test programme to ensure that materials meet full requirements for the shipping industry. Without this approval, Corus would be unable to use its materials for this type of job.
By meeting the higher specification, Corus gained Lloyds Register approval for the new steel plate it developed for the Royal Navy. This approval means that Corus can offer these high quality steels to other customers. This expands its customer base. Its investment in CI systems, research and development and the use of its employees' knowledge have provided Corus with a distinct competitive advantage.
On January 27, 2003, Philip Morris Companies Inc. changed its name to Altria Group, Inc. On March 30, 2007, a spin out of Kraft Foods subsidiary (publicly traded since 2001) was concluded through distribution of the remaining stake of shares (88.1%) to Altria shareholders. As a result, Altria no longer holds any interest in Kraft Foods. On March 28, 2008 a similar spin out of Philip Morris International was completed with 100% of shares being distributed to Altria shareholders.
On January 6, 2009, Altria Group, Inc. completed the acquisition of UST Inc., a moist smokeless tobacco manufacturer; UST owned Ste Michelle Wine Estates, a wine company.
Steelmaking is a large-scale manufacturing process. Manufacturing involves taking all of the raw materials involved in making steel and turning them into tangible outputs. Producing large quantities reduces the cost of each piece. This is known as 'economies of scale'. In order to test the new steel formula properly during development, Corus needed to find a way of making small batches for testing. Corus also needed to evaluate how, if it won the bid, it would produce the steel on a large scale.
Product testing is an important part of development. The small batches enabled Corus to create prototypes to test and discover how well each met the required specification.
It needed to examine which elements of the steel manufacturing process affected the strength and toughness of the plate. It was important to test various factors to see what impact changes in each would make to the finished product:
the steel chemistry - what ingredients made the steel 'recipe' better?
the reheating conditions - how did the temperature affect the steel?
the rolling schedule - did different mill processes have an effect?
the cooling speed - did the speed of cooling affect the product?
the additional heat treatment processes - would additional heating change its qualities?
The product testing stage enabled Corus to make sure the final product met the required brief from the design team. It used computer modelling software to identify the impact of changes in each factor. By understanding the best combination, Corus came up with the winning formula.
Corus developed the new steel product to help it win the Royal Navy contract. As a result, it benefited in many ways as a side effect of the changes:
By using its existing CI procedures to guide its research and development and testing, Corus developed the new specification of steel required at a competitive price.
Investment in new technologies and equipment, used alongside lean production techniques, enabled Corus to minimise levels of waste and reduce high manufacturing costs.
It was able to meet customer deadlines, a vital element of making a business' operations more competitive.
The steelmaking industry also benefited. Corus adopts a practice of benchmarkingas part of its continuous improvement. It shares its best practice across the industry. Other steel businesses can now use the best methods of production to raise quality across the whole sector.
Quality assurance is a vital requirement of continuous improvement, especially in the shipbuilding industry. Steel products for this industry require approval by shipping classification societies, such as Lloyds Register of Shipping. This independent body carries out its own assessment of the test programme to ensure that materials meet full requirements for the shipping industry. Without this approval, Corus would be unable to use its materials for this type of job.
By meeting the higher specification, Corus gained Lloyds Register approval for the new steel plate it developed for the Royal Navy. This approval means that Corus can offer these high quality steels to other customers. This expands its customer base. Its investment in CI systems, research and development and the use of its employees' knowledge have provided Corus with a distinct competitive advantage.
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