PhilipMorrisInternationaltomanufactureheatedtobaccopodsinthePhilippines

2022 10/01

PhilipMorrisInternationaltomanufactureheatedtobaccopodsinthePhilippines
PhilipMorrisInternationalwillinvest8.8billionPhilippinepesos($150million)tostart
manufacturingsmokelessheatedtobaccopodsinthePhilippines,expectedtomoveawayfrom
cigarettes.
Commercialproductionisexpectedtobegininthefourthquarterof2023atPMFTC,alocaljoint
venturebetweenAmericanTobaccoGroupandbillionaireLucioTan'sconglomerateLTGroup.
ThiswillmarkthefirsttimePMIhasproducedheatedsticksinthePhilippines.Productionwill
takeplaceatanexistingcigarettefactoryinBatangasprovinceonLuzonIsland,PMIsaidina
newsconferenceonWednesday.
PMI'shandheldIQOSdeviceheatstobaccowithoutburningit,producingsteambutnosmokeor
ash.PMFTCbroughtIQOStothePhilippinesin2020.
PMIsaidtheinvestmentwillcreate220jobsandusetobaccogrowninthePhilippines.
Itisestimatedthatmorethan20%ofadultsinthePhilippinessmoke,ahigherratethanJapan.

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