Philip Morris International Inc. said the facility of its Greek affiliate Papastratos Cigarette Manufacturing Co. SA was stopping all cigarette production and will only make smoke-free products.
The tobacco giant said the Greek plant will exclusively produce HEETS, the tobacco units used in the smoke-free product IQOS.
As part of a €300 million investment, the Greek factory's cigarette-production lines were replaced with high-tech facilities that can produce 10,000 smoke-free units per minute, Philip Morris said.
"Papastratos is the first of our factories to end cigarette production and fully shift to manufacturing our smoke-free alternatives," Philip Morris International CEO André Calantzopoulos said.
The improved Greek facility is expected to create 400 new jobs and become fully operational by the end of 2018.
"We will continue to convert existing sites and invest in new facilities to answer global adult smoker demand for better alternatives to cigarettes," Calantzopoulos added.
Philip Morris said it was also planning to either fully or partially transform its cigarette factories in South Korea, Romania and Russia into facilities dedicated to producing smoke-free products.