Company "Philip Morris", during two years, invested 60m EUR in Tobacco Industry Niš

The privatization of the Tobacco Industry Niš (DIN), which became part of company "Philip Morris", is still the biggest foreign investment in Serbia.

- During somewhat over 2 years, since the tender privatization, the investments in DIN exceeded 800m EUR and, as far as the equipment and personnel are concerned, Niš-based factory came to the same level with the forty factories all around the world - said general manager of "DIN-Philip Morris" Euđenio Sidoli.

He points out that the management of the company managed to complete the process of introduction of the up-to-date technology. "DIN-Philip Morris" already has annual production of about 12 billion cigarettes. Over the last 12 months, 12 new cigarette brands have been offered to the Serbian and foreign market, so that Serbia does not import anything from the assortment of Philip Morris any more.

Sidoli reminds that, over last two years, the investments reached amount of 60m EUR, which is the amount Philip Morris obliged to invest over the period of five years.

"DIN-Philip Morris" fills the budget of Serbia with about 150m EUR on annual basis, whereas, every year, it invests about 1m EUR in the development of local community through donations and aids to projects in field of education, culture, sports and training of personnel of various profiles who can become the leaders in Niš and Serbia.