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A historical investment dedicated to innovation

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Investing in our homeland

Just one year after announcing a 300-million euro investment, we inaugurated our new production facilities in Aspropyrgos. For the past 87 years, our company has left its mark on Greece’s entrepreneurial history and is now, at a global level, the second exclusive tobacco sticks production unit for Philip Morris International’s (PMI) new innovative tobacco product, the IQOS.

Our most challenging project yet was completed in record time, despite its particular requirements and size, and includes the construction of 3 new buildings, the installation of 2 new tobacco processing lines and 10 new production lines for heated tobacco sticks, while the factory’s production capacity is expected to reach 20 billion heated tobacco sticks per year.

Our vision for a smoke-free future

 “We design the future”, leaving the production of cigarettes in the past once and for all. Fulfilling Philip Morris International’s vision for a smoke-free future, Papastratos launches a new era and gives Greece a leading role in international developments in the tobacco industry, generating immediate and significant benefits for the national economy and the Greek society.

New job positions and active support

The 400 new jobs created increase the company’s staff by 50%, raising the total number of employees to 1,200. At the same time, the company’s shift towards innovation through the new generation of tobacco products creates an even safer and predictable environment for thousands of people employed in the supply chain, from tobacco growing to retail sale points.

The future is changing for the national economy as well, thanks to the strong export orientation of the new investment, but also thanks PMI sending a powerful message of confidence in Greece and its prospects.

The opening of Papastratos’s new factory

Our new facilities were inaugurated by the Chief Executive Officer of Philip Morris International, André Calantzopoulos, and the Chairman and Managing Director of Papastratos, Christos Harpantidis, in the presence of numerous representatives of the political and business circles in Greece.

In his speech, the Chief Executive Officer of Philip Morris International, André Calantzopoulos, noted that this was an important step, which brings us even closer to the future, and stressed the realisation of PMI’s vision through the innovative tobacco products:
“Today is a historic day for our company. Papastratos opened the first PMI factory that discontinues the production of cigarettes and transforms its operation to exclusively produce alternative products that heat tobacco, instead of burning it. We shall continue transforming the existing production facilities and invest in new ones to satisfy the requirement of adult smokers around the world who seek better solutions, alternative to smoking. We undertook the commitment to offer potentially reduced-risk products to all the people who had no intention to quit smoking anyway. This tide of innovative change to the benefit of 1.1 billion smokers, of the public health and of society in general, keeps rising. We shall continue to works towards a smoke-free future”, said Mr Calantzopoulos.

On his part, the Chairman and Managing Director of Papastratos, Christos Harpantidis, referred to the transformation of the company and the new era in its development that will significantly strengthen the social added value created by Papastratos, securing a place in the future for the country, for the national economy, and for the Greek society:
“87 years after the establishment of the most advanced cigarette factory in Greece at that time, Papastratos is pioneering again. Faithful to our commitment to shape prospects for the future, we revealed today a new state-of-the-art factory that marks a new era for Papastratos. This investment represents yet another action of support towards the Greek society and economy, by creating new jobs, securing thousands of existing jobs across the supply chain and by strengthening innovation, extroversion and the country’s image abroad. At the same time, however, we are turning a new page, leaving cigarettes behind and moving forward in the realisation of our vision for a smoke-free world.”

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