Philip Morris Signed Agreement for Greek Tobacco

Philip MorrisAmerican tobacco company Philip Morris International along with its subsidiary Papastratos signed yesterday the agreement to purchase 50% of Greece΄s tobacco production over the next three years, according to an official announcement.
“The deal is a sign of confidence in Greece,” Greek Agriculture Minister Athanasios Tsaftaris said after signing the agreement in the presence of Prime Minister Antonis Samaras.

Under this major agreement, the tobacco giant will absorb half of the country΄s production of the oriental tobacco type. The deal is regarded as a significant boost to 25,000 Greek tobacco growers who have been affected by the Greek financial crisis over the past three years.
Nikitas Theofilopoulos, Chairman and Chief Executive Officer of Papastratos said that the deal prove the company’s commitment to further strengthen its presence in Greece.
(source: Capital)


  • Choralife

    Mmm, yet more mixed signals from our idiots in government. On the one hand they are signing deals to sell tobacco and making a lot of money on the raised cigarette and tobacco tax, yet on the other hand we have them telling us that they are going to clamp down on tobacco consumption.

    The deal is good news for farmers though.