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About Papastratos
Papastratos, an affiliate of Philip Morris International (PMI), has been a leader in the production and commercialization of cigarettes and smoke-free tobacco products in Greece for the past nine decades.
In 2017, the company turned the page in its long history and, with a significant €300-million investment, transformed its factory in Aspropyrgos into an exclusive heated tobacco sticks production unit for IQOS, the first innovative PMI product which potentially holds a lower-risk than that of cigarettes.
Papastratos’ corporate course is inextricably linked to the evolution of the industry, the development of the country’s economy and the support towards society. In April 2019, the US Food and Drug Administration (FDA) authorized the marketing of IQOS in U.S.A, while in July 2020, the FDA approved IQOS as a modified risk tobacco product, suitable for promoting public health. By September 2021, approximately 14.9 million adult smokers around the world and more than 400.000 in Greece have chosen this new technology, available in more than 70 countries.
In June 2021, on Papastratos’ 90th anniversary, the company announced its Sustainable Development strategy for the next five years. At the same time, it also announced its new large €125-million investment in its factory in Aspropyrgos which has a strong export activity.
By continuously investing in science and new technologies, Papastratos aims to create value, both for the company and its people and for the environment and society. Its extensive Social Responsibility program, the multiple awards as Best Workplace and Top Employer, its achievement as the first Greek company to acquire the Equal Salary certification and the first “Smoke-Free” company in Greece prove that its Sustainable Development strategy is at the forefront of its business activities.
