PMI Invests 30 million USD in Ukraine New Factory Despite Ongoing Conflict

PMI by 2FIRSTS.ai

May.05.2024

PMI Invests 30 million USD in Ukraine New Factory Despite Ongoing Conflict

Philip Morris International (PMI) has announced plans to release its latest IQOS ILUMAA device in Ukraine, despite challenges.

According to Ukrainian media outlet inventure, Philip Morris International (PMI) began investing in development projects in Ukraine in 2014 and has recently announced the upcoming release of its latest tobacco product IQOS ILUMAA.

Due to ongoing conflict, the release of this product in Ukraine has been delayed, but the company has now stated that, even in challenging circumstances, it remains committed to executing its investment plans and strategic goals in Ukraine. Maxim Barabash, the General Manager of Philip Morris Ukraine, stated:

We are investing in factories in Ukraine as a strong support for the Ukrainian economy during challenging times.

Philip Morris International has been operating in Ukraine's tobacco market since 1994, with a total investment of over 700 million dollars to date. However, due to recent military actions by the Russian side, the company has had to suspend operations at its factory in Kharkiv Oblast starting from February 24, 2022, and shift towards importing products.

Philip Morris has planned to invest 30 million dollars in opening a new factory in Lviv region in the second quarter of 2024.

References:

[1] Производитель Iqos инвестирует $11 млн в расширение в Украине

Also Read:

[1] PMI Mexico Launches IQOS ILUMA for Smoke-Free Future

[2] PMI Korea to Launch IQOS Iluma Neon Limited Edition in May

[3] Ukrainian Government Implements National Equipment Registration Act

[4] Innovative Mobile Power Source Made from Recycled E-cigarettes

[5] Ukrainian Parliament to Discuss Tax Regulation Law Framework Amendment

[6] British Government Provides Tax-Free Tobacco to Ukrainian Soldiers Training in the UK

[7] JTI Ukraine to Resume Tobacco Export and Launch Ploom

#Europe #Ukraine #PMI #Heated tobacco products

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1. This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2. The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3. This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4. Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

Copyright

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Illegal Vape Sellers in the Netherlands Could Be Fined Up to €4,040

The outgoing Dutch government plans to raise fines for illegal sales of vapes and cigarettes, with first-time offenders facing a €2,040 penalty. The new fines, up to €4,040 for large companies, are expected to take effect on July 1, 2026, pending parliamentary approval.

Nov.10 by 2FIRSTS.ai

China Opens 2026 National E-Cigarette Standards Project for Public Submissions

The State Administration for Market Regulation (SAMR) and the State Tobacco Monopoly Administration (STMA) jointly announced the launch of the 2026 National Standardization Project for E-cigarettes. The initiative, coordinated by the National Technical Committee on Standardization of E-cigarettes, aims to enhance the industry’s regulatory framework through new standards on manufacturing, storage, distribution, and evaluation.

Nov.27 by 2FIRSTS.ai

BAT Malaysia Reports Q3 Results: Net Profit Plummets 89.5%, Stock Price Drops 15%

BAT Malaysia's Q3 results show a sharp 89.5% drop in net profit to RM7 million (approximately $150,000 USD), with revenue also falling to RM300 million (approximately $6.4 million USD). The company attributed the decline to new regulatory requirements, including pictorial health warnings and the retail display ban. Its stock dropped 15.25% to RM4.78 (approximately $1.02 USD).

Oct.31 by 2FIRSTS.ai

Philip Morris Korea Launches New TEREA Packaging for IQOS ILUMA to Mark Third Anniversary

Philip Morris Korea has announced a new packaging design for TEREA, the dedicated tobacco stick brand for its heat-not-burn device IQOS ILUMA, to celebrate the third anniversary of its launch in South Korea. The newly designed products are now available at nine IQOS flagship stores and major convenience stores across the country.