"Philip Morris" to invest 1 million Euros in the plant of Otopeni

"Philip Morris" Romania will invest 1 million Euros in the modernization of its plant of Otopeni, by installing a new energy efficient cooling unit, according to a press release sent to our editors. The aforementioned investment will reduce the plant's energy consumption by 5%, starting with the current year.

This investment is part of a wider program to reduce the plant's environmental impact, by reducing consumption of natural gas, greenhouse emissions and the volume of generated waste.

"We will continue our investments in the modernization of the plant and increasing energy efficiency. Our plant's ability to promptly respond to the needs of the market and to provide adult consumers with high quality products was one of the key factors which contributed to a record output in 2011. Over 80% of that output was exported", said Sergey Slipchenko, managing directors of "Philip Morris" Romania and Bulgaria.

"Philip Morris" Romania has about 800 employees, of which approximately 500 work in the plant of Otopeni.

The company manufactures cigarettes for 15 more countries, such as Italy, Poland, Bulgaria, Bosnia Herzegovina, Spain, Czech Republic, Slovakia etc.

According to the latest data by "Novel", illicit cigarette trade has increased. In November last year it amounted to 15% of the total market, compared to 11.8% in September. This means the illegal market has basically returned to its July 2011 levels, after the contraction it experienced in 2010 and in the first half of 2011.

The representatives of "Philip Morris" consider that in order for illegal cigarette trade to decrease, a unified legislative framework needs to be created, which would regulate contraband and tax evasion together.

In 2010, "Philip Morris" Romania had a turnover of over 2 billion lei, with a net profit of about 52 million lei. Total revenues amounted to about 2 billion lei.