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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)
MO 58.76-0.1%2:17 PM EST
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To: md1derful who wrote (4026)6/24/1999 6:09:00 AM
From: Racso  Read Replies (1) of 6439
 
From today's WSJ. Although the article focuses on the growing prospects of tech companies due to Asia's recovery, it also makes reference to MO's Kraft unit comeback.
QUOTE
No Asian country was hit harder by economic and fiscal crisis than Indonesia, but a surprising number of U.S.
companies say their local operations are recovering -- if not
thriving -- as the turmoil ebbs.
Take the local units of Philip Morris Cos.' Kraft Foods Inc.
and Johnson & Johnson Inc. The collapse of Indonesia's
currency, the rupiah, against the dollar drasticall
cut
Indonesian exports in 1998, and cut into Kraft's imported
coffee, cheese and candy sales. Now, Kraft says sales are
picking up as the rupiah strengthens and its distributio
network improves.

END OF QUOTE
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