Aspropyrgos, 29 August 2013 – Philip Morris International (PMI) and its affiliate Papastratos Cigarette Manufacturing Company today announced that Papastratos’ Agrinio-based leaf warehouse will be transformed into an oriental leaf logistics hub for Europe.The facility will become the only PMI owned logistics hub for oriental tobacco in Europe and will house tobacco from Greece, Bulgaria and the former Yugoslav Republic of Macedonia (FYROM) prior to its transport to the company’s factories in the European Union, Russia and Ukraine.
Following a meeting today with the Prime Minister Mr. Antonis Samaras and Minister of Agriculture Mr. Athanasios Tsaftaris regarding the company’s plans Papastratos’ President and Managing Director Mr. Nikitas Theophilopoulos said, “Greece is a strategic oriental tobacco location for Philip Morris International and the Cooperation Agreement we signed last February with the Government opened a new chapter in the history of our company in Greece. The conversion of our Agrinio warehouse into a logistics hub for oriental tobacco in Europe is an important next step that will benefit the domestic and international transport sectors, as well as the sector’s exports. We hope that this, combined with our overall commitment to investing in Greece, which has exceeded 600 million euros in the last 10 years, will contribute to the country’s efforts to exit the economic crisis.”
The Agrinio warehouse covers 58,0000 s.m and is located in an area of 250,000 s.m. The conversion of the warehouse started this week with the delivery of the first 500 tons of tobacco from Bulgaria. It is expected to be completed in 2014, when about 15,000 tons of tobacco will be transported through Agrinio.
The Cooperation Agreement with the Greek Government foresees an increase of the Company’s purchases of Greek oriental tobacco for the years 2013 to 2015 by 20 percent compared to the past three years. This agreement is contributing to the creation of a much more predictable economic environment for the country’s 25,000 tobacco farmers and workers.
PMI is the world’s leading international tobacco company, with six ot the world’s top 15 international brands and products sold in more than 180 markets. In addition to the manufacture and sale of cigarettes, including Marlboro, the number one global cigarette brand, and other tobacco products, PMI is engaged in the developement and commercialization of Reduced-Risk Products (RRPs). RRPs is the term PMI uses to refer to products with the potential to reduce individual risk and population harm in comparison to smoking cigarettes. Through multidisciplinary capabalities in product development, state-of-the-art facilities, and indusrty-leading scientific substantiation, PMI aims to provide an RRP portfolio that meets a broad spectrum of adult smoker preferences and rigorous regulatory requirements.