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Philip Morris Operations

Philip Morris Operations or Niš Tobacco Factory is a Serbian tobacco manufacturer based in Niš.

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]

Market and financial data

As of 19 December 2018, Philip Morris Operations has a market capitalization of 97.20 million euros.[7]

See also

External links

References

  1. БИЛАНС УСПЕХА (2017) - Philip Morris Operations apr.gov.rs, retrieved 18 October 2018^
  2. БИЛАНС СТАЊА (2017) - Philip Morris Operations apr.gov.rs, retrieved 18 October 2018^
  3. Ivan Veličković. Pogrešna privatizacija koreni.rs, 29 July 2013, retrieved 20 December 2018^
  4. M. Ristović. Radnici Duvanske industrije Niš: Preispitati privatizaciju novosti.rs, 28 September 2012, retrieved 18 October 2018^
  5. Spasoje Smiljanić. Podmukli udari s neba novosti.rs, 9 March 2009, retrieved 20 December 2018^
  6. "Filip Moris" kupuje DIN, BAT kupuje DIV b92.net, 5 August 2003, retrieved 18 October 2018^
  7. Market capitalization – DINNPB - Philip Morris Operations a.d., Niš - 19.12.2018. belex.rs, retrieved 20 December 2018^