Philip Morris Invests USD 20 Million in Modernization of Factory in Nis

Philip Morris International invested USD 20 million in its production facility in Nis this year, whereby the total investments of this company in Serbia have reached the amount of close to USD 900 million, the company announced.

The investment in the production facility, meant for an additional modernization of the factory and procurement of new production and packing machines, the company says, aims to follow the years-long stable trend of the growth of exports from the factory in Nis, which continues despite the global economic crisis caused by the COVID-19 pandemic.

With the opening of new exporting markets for the products of Philip Morris, the exports from this factory in Serbia increased 20 times compared to the period from 10 years before.

The Managing Director of Philip Morris for Southeast Europe, Aleksandar Jakovljevic, stated that the Nis factory had grown from a facility meant for the market of Serbia into a large regional and global production center, from which products are exported to over 50 countries of the world.



– The position that we've built in these 17 years since the privatization has not only put us firmly on the list of the biggest exporters but also made us become the second biggest payer of taxes to the state budget, as well as the center of Philip Morris in Southeast Europe, from which we coordinate the operations of a large number of markets. We have ambitious plans for the future, in which, I am sure, the stable business environment and the predictability of the regulatory and fiscal policy will help us, as it has so far – Jakovljevic said.

He adds that the favorable business climate, which will undoubtedly be maintained with the new government, according to him, will enable the company to keep investing, both in its factory in Nis and in the commercialization of the products which have the potential to lead to big advances in the field of public healthcare.

Philip Morris operations a.d. Niš

Philip Morris services d.o.o. Beograd

Philip Morris International

Aleksandar Jakovljević

Philip Morris

investment in production facility

factory

modernization of a factory

production machines

packing machines

pandemic

coronavirus