Philip Morris International is set to invest $100 million in a new facility in Niš, Serbia, creating approximately 200 new jobs, according to announcements made during the firm’s 20th-anniversary celebrations in the country.
The milestone event was attended by Serbian Prime Minister Ana Brnabić, who inked a Memorandum of Understanding between the Serbian government and Philip Morris Operations in Niš.
Jacek Olczak, the CEO of Philip Morris, stated that the company is taking a significant step towards its vision of a future where cigarettes are replaced by better alternatives. Olczak lauded the Niš factory as an exemplary site of modernisation and development, yielding excellent business results through the implementation of cutting-edge technological solutions and innovations.
“We are grateful to the Serbian government for creating a conducive business environment that has enabled us to operate successfully here for 20 years, and to continue investing,” said Olczak.
The new investment will allow the Niš factory, previously focused solely on the production of traditional cigarettes, to introduce a new line of smoke-free tobacco products intended for export. With this latest investment, Philip Morris’s total financial commitment to its Serbian operations will exceed $1 billion.