Cigarette maker Philip Morris International (PMI), with brands such as Marlboro and IQOS tobacco heater, will invest another USD 100 mln in the plant it operates north of Bucharest at Otopeni, in 2022-2023.

The company's decision comes in the context of a change in global strategy that provides that, by 2025, more than 50% of Philip Morris International's revenues will be generated by "smoke-free" products (up from one quarter in 2020), Ziarul Financiar reported.

This year, the company invested USD 100 mln in the same production unit, where it produces consumables for IQOS, the electronic tobacco heating system developed by the company.

Philip Morris has already invested USD 500 mln in the Otopeni plant since 2017. The company has created some 350 new jobs in the last 4 years.

The investment aimed at transforming the production of traditional cigarettes into the production of consumables for heated tobacco systems.

andrei@romania-insider.com

(Photo source: Pmi.com)