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.
Notice
1. This article is provided exclusively for professional research purposes related to industry, technology and policy. Any reference to brands or products is made solely for the purpose of objective description and does not constitute an endorsement, recommendation, or promotion of any brand or product.
2. The use of nicotine products, including but not limited to cigarettes, e-cigarettes, and heated tobacco products, is associated with significant health risks. Users are required to comply with all relevant laws and regulations in their respective jurisdictions.
3. This article is strictly restricted from being accessed or viewed by individuals under the legal age.
Copyright
This article is either an original work by 2Firsts or a reproduction from third-party sources with the original source clearly indicated. The copyright and usage rights of this article belong to 2Firsts or the original source. Unauthorized reproduction, distribution, or any other unauthorized use of this article by any entity or individual is strictly prohibited. Violators will be held legally responsible. For copyright-related matters, please contact: info@2firsts.com
AI Assistance Disclaimer
This article may have utilized AI to enhance translation and editing efficiency. However, due to technical limitations, errors may occur. Readers are advised to refer to the sources provided for more accurate information.
This article should not be used as a basis for any investment decisions or advice, and 2Firsts assumes no direct or indirect liability for any errors in the content.
