GREECE
Philip Morris International (PMI) has announced plans to invest €300 million ($US324 million), to convert a traditional cigarette factory in Greece into an iQOS production plant. The new plant, based in Piraeus, will have the capability to produce 20 billion iQOS sticks annually.
PMI will add this new facility to two existing iQOS production plants in Italy and Switzerland. It is expected that the company will boost production with more plant openings as the company demonstrates its confidence in the alternative tobacco product through a $3 billion investment on r&d for the technology.
“Our ambition is that one day potentially less harmful, smoke-free products replace cigarettes to the benefit of smokers, public health, and society at large,” Philip Morris said.