Philip Morris International (PMI) is strengthening its presence in the Greek market with a €200 million investment through Papastratos, enhancing the production capacity of the Aspropyrgos factory with four production lines.
ENHANCING EXPORTS
The new investment, as stated by Massimo Andolina, President, PMI Europe Region, is expected to create 300 new jobs, support the company’s exporting efforts – reaching a total value of €300 million –aiming for a 40% increase in exports compared to 2022. Note that PMI’s exports span from Europe to Japan.
BOOSTING TEREA PRODUCTION
The company’s factory in Aspropyrgos currently operates 10 production lines, that are being gradually modernized. Two of them are designated for the production of the new Terea tobacco sticks and two for digital printing.
Note that five years into its launch, Terea tobacco sticks have captured a 18.1% share in the overall tobacco market, highlighting the clear shift of the Greek smokers towards alternative products.
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