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Philip Morris Operations
Tobacco company in Niš, Serbia From Wikipedia, the free encyclopedia
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Philip Morris Operations or Niš Tobacco Factory is a Serbian tobacco manufacturer based in Niš.
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History
The Niš Tobacco Factory was established in 1930 as a part of the state tobacco monopoly at its present location in Crveni Krst neighborhood of Niš.[3] It was one of the largest cigarette manufacturers in Yugoslavia. It offered a variety of services, including the production of processed tobacco, tobacco cut filler, filters and other.[3]
During the 1990s, Niš Tobacco Factory had 3,500 employees and had tens of thousands cooperators in former Yugoslavia.[4] In 1999, during the NATO bombing of Yugoslavia, the company's facilities were bombed, allegedly by request of Philip Morris International.[5][4]
Niš Tobacco Factory was sold to Philip Morris in August 2003 for €518 million.[6] It later changed name to Philip Morris Operations. In 2012, the workers union protested, alleging that Philip Morris has failed to transfer €387 million to the Government of Serbia and also significantly reduced production.[4]
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Market and financial data
As of 19 December 2018, Philip Morris Operations has a market capitalization of 97.20 million euros.[7]
See also
References
External links
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