Philip Morris to invest millions in Polish tobacco stick plant
Philip Morris International (PMI) will spend over PLN 1 billion (EUR 214 million) on a new production plant for heated tobacco sticks to be located in Krakow, southern Poland, the firm's CEO has announced.
Michal Mierzejewski, president of PMI for north-east Europe, told a news conference on Tuesday that since 1996 PMI had invested nearly PLN 25.5 billion (EUR 5.5 bln) in Poland.
"Today, Philip Morris International has decided on a new investment. We want the production of a new generation of heated tobacco sticks to take place in our factory in Krakow," Mierzejewski said.
"We estimate that this investment... will create many jobs," he added.
Mierzejewski said that the tobacco sticks produced at the Krakow plant will be distributed both on the local and international market.
He also said that more details of the new investment will be revealed in the coming months.