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SWITZERLAND: Philip Morris invests more than 30 million in its plant in Neuchâtel.

SWITZERLAND: Philip Morris invests more than 30 million in its plant in Neuchâtel.

Philip Morris will invest more than 30 million francs in its plant in Neuchâtel, Switzerland. The US tobacco company plans to install two new production lines for its IQOS heated tobacco system.


AN INVESTMENT TO FLOOD THE SWISS MARKET.


The new lines will produce tobacco sticks mainly for the Swiss market, said Friday Philip Morris (PMI) in a statement. PMI already manufactures units of heated tobacco in its new plant in Italy and on a small scale in its industrial development center in Neuchâtel. In addition, the group announced recently investments in a new factory in Germany and the conversion of its cigarette factories in Greece, Romania and Russia.

Since 2008, PMI has invested more than 3 billion (2,85 billion francs) in the research, development and scientific evaluation of smokeless products. The multinational employs a total of more than 1500 employees in Neuchâtel. The device developed by Philip Morris, IQOS, acronym for I Quit Ordinary Smoking, aims to substitute the consumption of cigarettes with less harmful products for health, a crucial issue for the tobacco industry.

source : Ats / Nxp / Tdg.ch

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