Philip Morris president, Christos Harpantidis, said the company will be producing, in Otopeni, in a few months’ time, tobacco reserves for IQOS, a project that will create 300 new jobs in Romania.
The EUR490 million investment announced by Philip Morris aims to turn the cigarette factory in Otopeni into a unit for the manufacturing of tobacco reserves used together with IQOS, a reduced-risk tobacco product. These tobacco reserves are currently sold under the name of HEETS, which are specially designed tobacco products that contain tobacco material and several filter sections.
The event organized by Philip Moris was also attended by Romanian Prime Minister Mihai Tudose who said this type of investments might attract new investors to Romania, which, he added, is an attractive country for both large and potential investors.
In Romania, Philip Morris registered a turnover of nearly RON2.3 billion in 2016, through the company Philip Morris Trading, according to public data.