Papastratos exports up ‘significantly’

Philip Morris International’s Greek subsidiary Papastratos said recently that the company’s exports rose ‘significantly’ last year, partially offsetting the decline in the domestic cigarette market, according to a story by Anestis Dokas for Kathimerini, relayed by the TMA.

Chairman Nikitas Theofilopoulos said the company’s plant at Aspropyrgos, west of Athens, exported to more than 30 countries.

The company announced in December that it was investing €25 million for the installation of seven new production lines and for a new tobacco processing unit.

Theofilopoulos said the company was also reorganizing and improving its distribution network in Greece for the first time since 1950.

He said the target was to have soon the most modern and most reliable distribution network in the country, the only one that would be able to distribute products to 25,000 sales points across Greece on a daily basis.