Philip Morris International Inc. (PMI) Inaugurates Manufacturing Facility in Italy for Potentially Reduced-Risk Products*
September 23 2016 - 9:00AM
Business Wire
- First manufacturing facility for large
scale production of heated tobacco products
- Anticipated investment of approximately
EUR 500 million for the facility and pre-existing pilot plant
- Up to 600 new jobs when fully
operational
- Total initial annual capacity of
approximately 30 billion units when fully operational, equivalent
to approximately 6% of industry cigarette sales in PMI’s European
Union Region
Philip Morris International Inc. (PMI) (NYSE/Euronext Paris: PM)
inaugurates today its first manufacturing facility for large scale
production of two heated tobacco alternatives to cigarettes. The
announcement was made at an event at the factory in the presence of
the Italian Prime Minister Matteo Renzi. The initial annual
production capacity of the factory will be approximately 30 billion
units.
“Our ambition is to lead a full-scale effort to ensure that
non-combustible products ultimately replace cigarettes to the
benefit of adult smokers, society, our company and our
shareholders. This factory is a milestone in our roadmap toward
this paradigm shift,” said André Calantzopoulos, PMI’s Chief
Executive Officer. “This investment underscores our strong
commitment to Italy and in particular to the Bologna region, which
is not only home to one of our most technologically advanced filter
factories located in Zola Predosa, but which also offers great
infrastructure and, most importantly, access to exceptional human
talent.”
Representing an anticipated investment of approximately EUR 500
million, this state-of-the-art facility currently employs over 300
people and, when fully operational, may employ up to 600. PMI
affiliates in Italy already employ over 1000 people. The
pre-existing pilot plant will gradually become a training center to
continue to develop PMI’s manufacturing know-how and serve as a
knowledge-hub for other PMI manufacturing facilities.
PMI’s investment in the development and rigorous scientific
assessment of products with the potential to present less risk of
harm compared to cigarettes spans more than a decade. It
encompasses a wide-range of tobacco and non-tobacco containing
product platforms. The tobacco heating device iQOS, the first of
these products to be commercialized in November 2014, is now sold
in cities in ten countries, and PMI has plans to expand sales to
key cities in an additional ten markets before the end of the year.
Results of commercialization to date are encouraging. Extensive
research to validate the product’s potential to present less risk
of harm compared to continued cigarette smoking is well advanced
with very promising results to date. Any conclusion on reduced
disease risk will be based on the totality of the evidence.
###
Philip Morris International Inc.
Philip Morris International Inc. (PMI) is the world’s leading
international tobacco company, with six of the world's top 15
international brands and products sold in more than 180 markets. In
addition to the manufacture and sale of cigarettes,
including Marlboro, the number one global cigarette brand, and
other tobacco products, PMI is engaged in the development and
commercialization of Reduced-Risk Products (“RRPs”). RRPs is the
term PMI uses to refer to products with the potential to reduce
individual risk and population harm in comparison to smoking
cigarettes. Through multidisciplinary capabilities in product
development, state-of-the-art facilities, and industry-leading
scientific substantiation, PMI aims to provide an RRP portfolio
that meets a broad spectrum of adult smoker preferences and
rigorous regulatory requirements. For more information,
see www.pmi.com and www.pmiscience.com.
* Reduced-Risk Products (RRPs) is the term PMI uses to refer to
products with the potential to reduce individual risk and
population harm in comparison to smoking cigarettes.
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