Papastratos

The government is continuing to send out mixed signals with regard to its commitment to reforms that will invite much-needed investments, as its deeds do not appear to match its words.

As part of its campaign to combat the trade of illegal tobacco, Philip Morris International has developed a pioneering application for checking whether packs of cigarettes bearing the logos of the company and its subsidiary Papastratos are genuine.

An entire festival dedicated to surfing and beach life is taking place in Piraeus from May 26 to 29 at the former Papastratos plant, featuring art inspired by the festival's key themes, artists who can customize your surfboard, a surf simulator to test your skills, yoga and pilates classes, dance parties, live music shows and much, much more.

Papastratos and its parent company Philip Morris feel justified regarding the 300-million-euro investment announced in March, one of the biggest by a foreign group in Greece since 2009.

Marlboro maker Philip Morris will invest 300 million euros ($323.76 million) in its Greek unit Papastratos to convert the cigarette plant into a maker of tobacco sticks for its smokeless IQOS product, executives said on Thursday.

A new 3-year cooperation agreement was signed on Wednesday between the Greek government and the tobacco company “Philip Morris International Management S.A” with its affiliate “Papastratos” in the presence of Prime Minister Alexis Tsipras.

By Anestis Dokas

Historic Greek tobacco producer Papastratos, now a Philip Morris International subsidiary, has seen its exports revert the company to profits in 2014, and is now launching an ambitious investment plan.

Leading tobacco firm Papastratos on Wednesday announced that a planned investment of 25 million euros in the transformation of the company’s factory into an exporting center is in the works.

Greek tobacco manufacturer Papastratos is planning an investment of 25 million euros at its facility in Aspropyrgos, west of Athens, the listed company's president and CEO, Nikitas Theofilopoulos, told Development Minister Costas Skrekas in a meeting on Thursday.