Papastratos

Papastratos
Παπαστράτος ΑΒΕΣ
Subsidiary
Industry Tobacco
Founded 1930
Founder Evangelos Papastratos
Headquarters Piraeus, Greece
Area served
 Greece, East Europe
Products Cigarettes
Number of employees
 800 (2015)
Parent Philip Morris International
Website www.papastratos.gr

Papastratos (Greek: Παπαστράτος Ανώνυμη Βιομηχανική Εταιρεία Σιγαρέττων) is a Greek tobacco company and is the largest manufacturer and distributor of cigarettes in Greece.[1] The company was formed in 1930 by Evangelos Papastratos with its first factory located in Piraeus. Its second factory opened in 1933 in Berlin but was forced to close in 1936 under pressure from the Nazi regime.[2] In 1937, the company opened its third factory in Cairo, which closed in 1955.[3]

In its heyday the company was one of the largest industrial producers in Greece. Whole communities (such as Agrinio)[4] flourished from the tobacco plantations supplying Papastratos factories.

The company began a co-operation with Philip Morris in 1975 and was purchased by it in 2003.[5] In 2009, a new state-of-the-art factory was inaugurated in the area of Aspropyrgos, an investment of more than €100 million, with a production capacity of 20 billion cigarettes annually. Papastratos S.A. owns a tobacco warehouse facility at Agrinio as well.

Cigarette brands produced by Papastratos include Assos International and Old Navy.[6]

References

  1. ↑ "Shareholders Agree to Sell 76% of Papastratos to an Affiliate of Philip Morris International". Business Wire. 6 May 2003. Retrieved 26 December 2007.
  2. ↑ Harontakis, D (9 Feb 2007). "Evangelos Papastratos". Epoxi (in Greek). Retrieved 26 December 2007.
  3. ↑ Shechter, Relli (2006). Smoking, Culture and Economy in The Middle East. I.B.Tauris. p. 111. ISBN 1-84511-137-0.
  4. ↑ Hamilton, Ian (1986). Industrialization in Developing and Peripheral Regions. Routledge. p. 259. ISBN 0-7099-3827-6.
  5. ↑ "Philp Morris Acquires Control of Papastratos for EUR 368 Million.". Business Wire. 15 October 2003. Retrieved 26 December 2007.
  6. ↑ "Papastratos Cigarette Company S.A.". Business.com. Archived from the original on September 22, 2007. Retrieved 27 December 2008.
This article is issued from Wikipedia - version of the Saturday, February 06, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.