13 November, 2012 - 00:00
The world-renown Philip Morris Company, operating in 180 countries with $70 billion annual turnover, is taking a stronger foothold in Ukraine, placing new production facilities in Donetsk oblast and the Crimea.
It is expected to invest some $200 million in the new construction project and the firm’s Executive Director George Farah says that the new production line will have an annual output of 12-15 billion cigarettes. In this way contraband cigarettes will be crowded out of the market and the state budget will enjoy a healthy income supplement. As for prices, there is little hope that they will fall. The Ministry of Health warning also remains in force.
Photo by Viktor Marushchenko, The Day
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