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May 24, 2019
Philip Morris International Announces €300 Million Investment in Smoke-Free Product Manufacturing Facility in Greece
Converting existing cigarette factory in
Greeceinto a production facility for the tobacco sticks to be used with IQOS.
- Annual capacity of around 20 billion tobacco sticks once fully operational.
- 400 new jobs to be created.
Since the equipment necessary to manufacture tobacco sticks for
IQOS is larger than that required for cigarette manufacturing, the
current facility area will be expanded. Once fully operational, the
plant will have an annual capacity of around 20 billion tobacco sticks.
The investment will create 400 new jobs at Papastratos, which
already employs approximately 800 people. Construction on the site will
commence immediately, with production scheduled to begin in
“This investment is further evidence of our progress towards a
smoke-free future. We are encouraged by the 1.4 million smokers who have
already switched to IQOS around the world, and we expect this momentum
to continue. This facility will help enable us to meet growing demand
from adult smokers,” stated
The Papastratos plant in Aspropyrgos (
IQOS is one of four smoke-free product types from PMI to address
adult smoker demand for potentially less harmful alternatives to
cigarettes. It is a heated tobacco product launched in late 2014 in two
city test markets and is expected to be available in key cities in over
30 markets in 2017. Since 2008, PMI has hired more than 400 scientists
and experts and invested over
View source version on businesswire.com: http://www.businesswire.com/news/home/20170322005541/en/
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