Greek tobacco firm Papastratos planning 25-mln-euro investment

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.

Papastratos, which was acquired by Philip Morris on 2003, is Greece’s largest cigarette manufacturer and distributor. Its 100-million-euro plant in Aspropyrgos was inaugurated in 2009, with the company saying that it is planning an additional investment of quarter of a billion euros to boost production at the facility of products intended for export.

According to the Athens-Macedonia News Agency, Papastratos has invested more than 600 million euros in Greece in the past decade.

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