Philip Morris invests $19 mln in cigarette production in Russia in 2009
MOSCOW. July 28 (Interfax) - Philip Morris has invested $19 million in cigarette production in Russia this year, Alexei Kim, director of corporate affairs at the company's Russian division, told journalists on Tuesday.
These funds were invested in the Philip Morris Izhora plant in the Leningrad region, he said. Specifically, $12 million was invested in the production and packaging of new Marlboro brands - Marlboro Gold Touch and Marlboro Gold Fine Touch.
Kim did not offer a forecast for the company's total investment in Russia this year. Philip Morris invested $40 million in its Russian plants last year and has invested more than $900 million since 1992.
Philip Morris exported 3 billion cigarettes from Russia last year, Kim said. Exports will be close to the same level this year. The company's main export markets are Armenia, Serbia, Singapore and Mongolia. Philip Morris also has plants in Ukraine and Kazakhstan.
The company's plants in Russia boosted net profit 45% to 16.8 billion rubles in 2008 from 11.6 b in 2007.