Another €200 Million Invested in Four More Production Lines—Is Eastern Europe Becoming a Hotspot for

This year's new investment is 200 million, which is no less than 700 million euros Eastern Europe Market investment.

Recently, a set of astonishing data has been released. The global electronic atomization giant Philip Morris International Its largest distributor in Eastern Europe had net sales of more than 600 million euros last year, a year-on-year increase of 40%.

It is interesting to note that Philip Morris International has been Continuously increase the construction of the Eastern European market and continuously expand production lines.

(Stunning data from Eastern European markets)

According to Greek media reports, Philip Morris International subsidiary Papastratos, Greece's largest manufacturer and distributor Since 2017, Papastratos's investment plan in the Aspropyrgos factory has driven a significant increase in the production of IQOS products.& nbsp;

In 2021, the company will also invest 125 million euros to improve production lines and produce the next generation of IQOS products. With a further investment of € 160 million in 2022, a total of 6 renovated production lines and 2 brand new production lines will be put into use by the end of 2022. In February 2023, the company announced an additional investment of € 200 million in the Aspropyrgos plant, adding four new production lines and creating 300 local jobs. This investment is expected to bring in an additional 300 million euros in exports. It is worth noting that Papastratos has been upgraded to PMI's operations headquarters in Southeast Europe in early 2023. The region covers 12 countries including Greece, Bulgaria, Romania, Cyprus, Slovakia, Serbia, Bosnia and Herzegovina, North Macedonia, Albania, and Montenegro.# p#pagination title #e# Of this production and sales of 1.58 billion euros, 657 million euros are net sales, while another 329 million euros are derived from exports to European markets other than Greece.

This data shows that the Eastern European market is ushering in the development of giant companies. In February this year, Philip Morris International continued to invest 200 million euros to add four new production lines in Eastern Europe and expandHNBAt the same time, Papastratos has been upgraded to PMI's operations headquarters in Southeast Europe in early 2023, covering core Eastern European countries, including Greece, Bulgaria, Albania, Montenegro, etc.

With new investment, Philip Morris International's total investment in Greece is now has reached 700 million euros.

Interestingly, Philip Morris International is one of the transformation electronic atomization giants. Like other traditional tobacco giants, it has completely abandoned traditional cigarettes and was one of the first companies to enter the field of electronic atomization. It has a very high market share especially in the HNB market. At present, in addition to Japan and South Korea, efforts are also being made to strengthen the promotion of alternatives in the United Kingdom, France and other countries.

In August this year, Philip Morris International also teamed up with Japan Tobacco in Egypt Acquisition of Egypt A stake in Oriental, the largest traditional cigarette manufacturer, will control a larger market share in Egypt. Based on the rapid development of Philip Morris International, its shares have also been increased by Balentine LLC Investment Company.

(The capital market also increased its holdings in Philip Morris International)

Data also shows that China exports to Western Europe in 2021e-cigarettesThe scale reached US$6.6 billion, but only US$1.6 billion in Eastern Europe. Now two years have passed and the European market is entering a period of penetration.

It has also been found from some countries in Eastern Europe, such as Poland and Bulgaria is the land where e-cigarettes are open, and local one-time demand is accelerating. Including another giant company, KT G, also believes that #p#pagination title #e# Eastern Europe is an important region in Europe that has captured the global cigarette electronic atomization market and formed a good layout!

At present, from the perspective of development, Eastern Europe is becoming fertile ground for electronic atomization investment, and giants are already in the process of deployment, which deserves attention!