Papastratos ups investment
Papastratos, the Greek subsidiary of tobacco multinational Philip Morris International (PMI), has announced a new investment of 200 million euros and an additional 300 new jobs to boost its exports. With the completion of this investment, scheduled for 2025, the value of Papastratos’ exports will reach €300 million.
Together with the new investment, the total investments of PMI in Greece now reach €700 million.
Papastratos will strengthen the production capacity of its factory at Aspropyrgos, West Attica, with four new production lines. At the same time, the company has also announced a change in its management, with Giorgos Margonis assuming the duties of managing director and succeeding Christos Harpantidis, who now becomes PMI’s vice president for Southeast Europe.
The above announcements were made on Wednesday at the Metropolitan Expo Center near Athens Airport, by Massimo Andolina, president of PMI in Europe, who explained that Papastratos plays a key role in Philip Morris International and is an important pillar in the exports of the Greek economy.
Harpantidis pointed out that Papastratos puts Greece at the center of global developments, with further strengthening of its export-minded character and 300 new jobs.
