Papastratos rolls out its development plan amid market challenges

The management of Papastratos, a subsidiary of Philip Morris International (PMI), expressed its strong concern over the tax policy planned by the EU for novel tobacco products.

As the company explained, the volatile economic environment may be even more affected by the upcoming revision of the EU tax directive 2011/64, which is expected to harmonize novel tobacco and nicotine products.

According to Papastratos, a potential large increase in tax rates in the European Union or changes in the tax base leading to higher taxes, is estimated to negatively affect the exports of heated tobacco sticks from Greece to EU countries with possible impacts on their existing growth trend.

So far, however, the adoption of the possibilities offered by technology and innovation has allowed Papastratos to evolve into a purely export force, with over 90% of the products produced (heated tobacco sticks) currently being exported to more than 40 countries, with the largest markets being Japan, Germany and Poland.

Development Plan

The Papastratos development plan includes the new expansion phase, which is the fourth since the initial transformation of the factory in 2017 and as the company announced in April 2025, concerns the construction of a new production line building, a new modern warehouse and the installation of 4 new heated tobacco production lines and a tobacco processing line. The new investment will have a total value of 200 million euros in the factory in Aspropyrgos.

According to the management, this investment, which will be accompanied by an increase in production capacity, thanks to modern equipment and continuous investment in human resources, will give further impetus to the company’s extroversion and exports, which are a strategic goal of Papastratos.

This is an investment that creates a strong embankment in the context of rapid international changes.

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