The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Tobacco Products Manufacture Of Tobacco Products 12.00 - Manufacture of tobacco products
300 jobs Number of planned job creations
Announcement Date
25 July 2017
Employment effect (start)
25 July 2017
Foreseen end date
31 December 2018
Description
The US tobacco products manufacturer Philip Morris International, has announced that it will invest €490 million into converting its Otopeni plant into a smoke-free products unit by the end of 2020. The converted plant will add new 300 new jobs to its existing 670 jobs by the end of 2018.
At the company's Otopeni plant, the transformation process into a HEETs production facility has started and is expected to end by 2018. HEETs, also known as HeatSticks, are units that heat tobacco instead of burning it. The production unit will be fully operational by 2020.
Philip Morris opened the Otopeni plant in 1997.
Sources
25 July 2017: Ziarul Financiar
25 July 2017: capital.ro
25 July 2017: digi24.ro
25 July 2017: Profit.ro
Citation
Eurofound (2017), Philip Morris International, Business expansion in Romania, factsheet number 91670, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91670.
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