Philip Morris, the leading tobacco firm, has announced plans to construct a new facility in Germany for the manufacture of smoke-free cigarettes. The result of a €290 million ($323 million) investment, the new plant will manufacture the firm’s IQOS brand of tobacco steaks that “uses revolutionary technology that heats tobacco without burning it, giving you the true taste of tobacco with no smoke, no ash and less smell”. According to …
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Philip Morris
Philip Morris, the tobacco giant is planning to restructure its business operations to phase out conventional cigarettes, focusing on less harmful alternatives such as electronic cigarettes and heated tobacco products, according to a report in the Times. The company is said to be planning to create a single multi-category business, integrating its cigarette, heated tobacco and e-cigarette operations in PM Limited (UK and Ireland). In a “commitment to a smoke-free …
Philip Morris International Inc. (PMI) announced its plans to close its Bergen op Zoom manufacturing facility in the Netherlands. The company said the decision was down to dwindling demand for traditional smoking products in Europe because of an increase in health awareness, a weak economy and higher taxes on smoking products. The closure will result in 1,230 job losses, but production will be shifted to other factories in Europe with …
Japan Tobacco has bought a stake in Russian tobacco distributor Megapolis. The 20% stake was reportedly acquired for more than $750 million, with another $100 million tied to Megapolis’s “operational performance”. The investment by Japan Tobacco is designed to enable it to further penetrate the Russian tobacco market, the second biggest in the world behind China. Megapolis has 70% share of Russia’s distribution market and delivered more than 260 billion …
Philip Morris International, the world’s largest tobacco company, is looking too break into the e-cigarette market in 2014, according to media reports. Philip Morris International has plans set to enter the $2 billion plus global market, as demand for the less harmful alternative to conventional cigarettes continues. The new range is reportedly to be be called ‘Reduced-Risk’ and, according to Philip Morris chief executive Andre Calantzopoulos, “2014 will be a …
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