The company announced a new investment of 200 million euros and the creation of an additional 300 new jobs to boost exports. “Papastratos”its Greek subsidiary Philip Morris International. With the completion of this investment, scheduled for 2025, Papastratos’ export value will reach 300 million euros. Together with the new investment, Philip Morris International’s (PMI) total investment in Greece now reaches 700 million euros. Papastratos will strengthen the capacity of its Aspropyrgos plant with four new production lines. At the same time, the company announced a change in leadership. George Margonis take over the duties of the managing director and replace him Christos Harpantidiswho is now becoming PMI Vice President for South East Europe.

Specific announcements were made yesterday at the Metropolitan Expo by Masimo Andolina, President of PMI Europe, who explained that Papastratos plays a key role in Philip Morris International and is an important export pillar for the Greek economy. “Today, Greece is a unique example in Europe of progress towards a tobacco-free future, thanks to a realistic and evidence-based regulatory framework that recognizes the contribution that alternative products such as IQOS can make to the fight against smoking,” he said. typical. It is worth noting that five years after the launch, the product took 18.1% of the Greek tobacco market, which indicates a clear transition of Greek smokers to alternative products.

The total investment of Philip Morris International (PMI) in Greece currently reaches 700 million euros.

PMI Vice President for South East Europe, Christos Harpantidis, noted that “Papastratos” puts Greece at the center of global events with the further strengthening of its economic extroversion and 300 new jobs, as well as with investments that have exceeded 700 million euros from 2017 to date. At the same time, the new Managing Director of Papastratos, George Margonisspoke about strengthening the production structure and strengthening the export dynamics of the group and the capabilities of the company’s people.

Papastratos has been a subsidiary of Philip Morris International (PMI) for many years, having been a leader in the manufacture and marketing of smokeless products and cigarettes in Greece for nine decades. In 2017, the company turned a page in its history and, with an investment of 300 million euros, turned its factory in Aspropyrgos into the exclusive facility for the production of heated tobacco sticks for IQOS.

A year ago, the CEO of Philip Morris International, Jacek OlczakIn a conversation with “K” they calculated that in 10-15 years cigarette sales would “stop”. This goal remains even with a shorter time horizon. It is even becoming clear that with the investments that have been made in Greece, the products exported from our country are the main way that the multinational corporation replaces traditional cigarettes.