Philip Morris Operations
Tobacco company in Niš, Serbia
From Wikipedia, the free encyclopedia
Philip Morris Operations or Niš Tobacco Factory is a Serbian tobacco manufacturer based in Niš.
Founded in 1930
Native name | Филип Морис Операције |
|---|---|
| Company type | Joint-stock company |
| Industry | Tobacco |
| Founded | 11 June 2003 (Current form) Founded in 1930 |
| Headquarters | , |
Area served | Serbia |
Key people | Aleksandar Jakovljević (General director) |
| Revenue |  €175.70 million (2017)[1] |
 €32.41 million (2017)[1] | |
| Total assets | €183.16 million (2017)[2] |
| Total equity | €128.20 million (2017)[2] |
| Owner | Philip Morris International (99.69%) Others |
Number of employees | 604 (2017) |
| Website | www |
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]
