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First manufacturing facility for large scale production of heated
tobacco products
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Anticipated investment of approximately EUR 500 million for the
facility and pre-existing pilot plant
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Up to 600 new jobs when fully operational
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Total initial annual capacity of approximately 30 billion units when
fully operational, equivalent to approximately 6% of industry
cigarette sales in PMI’s European Union Region
LAUSANNE, Switzerland--(BUSINESS WIRE)--Sep. 23, 2016--
Philip Morris International Inc. (PMI) (NYSE/Euronext Paris: PM)
inaugurates today its first manufacturing facility for large scale
production of two heated tobacco alternatives to cigarettes. The
announcement was made at an event at the factory in the presence of the
Italian Prime Minister Matteo Renzi. The initial annual production
capacity of the factory will be approximately 30 billion units.
“Our ambition is to lead a full-scale effort to ensure that
non-combustible products ultimately replace cigarettes to the benefit of
adult smokers, society, our company and our shareholders. This factory
is a milestone in our roadmap toward this paradigm shift,” said
André Calantzopoulos, PMI’s Chief Executive Officer. “This investment
underscores our strong commitment to Italy and in particular to the
Bologna region, which is not only home to one of our most
technologically advanced filter factories located in Zola Predosa, but
which also offers great infrastructure and, most importantly, access to
exceptional human talent.”
Representing an anticipated investment of approximately EUR 500 million,
this state-of-the-art facility currently employs over 300 people and,
when fully operational, may employ up to 600. PMI affiliates in Italy
already employ over 1000 people. The pre-existing pilot plant will
gradually become a training center to continue to develop PMI’s
manufacturing know-how and serve as a knowledge-hub for other PMI
manufacturing facilities.
PMI’s investment in the development and rigorous scientific assessment
of products with the potential to present less risk of harm compared to
cigarettes spans more than a decade. It encompasses a wide-range of
tobacco and non-tobacco containing product platforms. The tobacco
heating device iQOS, the first of these products to be commercialized in
November 2014, is now sold in cities in ten countries, and PMI has plans
to expand sales to key cities in an additional ten markets before the
end of the year. Results of commercialization to date are encouraging.
Extensive research to validate the product’s potential to present less
risk of harm compared to continued cigarette smoking is well advanced
with very promising results to date. Any conclusion on reduced disease
risk will be based on the totality of the evidence.
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Philip Morris International Inc.
Philip Morris International Inc. (PMI) is the world’s leading
international tobacco company, with six of the world's top 15
international brands and products sold in more than 180 markets. In
addition to the manufacture and sale of cigarettes, including Marlboro,
the number one global cigarette brand, and other tobacco products, PMI
is engaged in the development and commercialization of Reduced-Risk
Products (“RRPs”). RRPs is the term PMI uses to refer to products with
the potential to reduce individual risk and population harm in
comparison to smoking cigarettes. Through multidisciplinary capabilities
in product development, state-of-the-art facilities, and
industry-leading scientific substantiation, PMI aims to provide an RRP
portfolio that meets a broad spectrum of adult smoker preferences and
rigorous regulatory requirements. For more information, see www.pmi.com and www.pmiscience.com.
* Reduced-Risk Products (RRPs) is the term PMI uses to refer to products
with the potential to reduce individual risk and population harm in
comparison to smoking cigarettes.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160923005343/en/
Source: Philip Morris International
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