On the anniversary of 90 years of continuous presence in the Greek market, Papastratos is “reborn” aiming at the end of smoking, said to OT Mr. Giannis Mastrokostas, Director of Corporate Affairs of the company.
Three years after the huge investment of 300 million euros for the transformation of the Papastratos factory into an exclusive production unit of heated tobacco rods (heets), the new investment of 125 million euros and the creation of 115 new jobs, the innovative tobacco products are exported in many countries as far away as Japan.
Guided by technology and science, Papastratos’ goal is to reduce smokers, said Mr. Mastrokostas.
The great scourge of smuggling
Regarding the great scourge of the smuggling of tobacco products, Mr. Mastrokostas characteristically noted that in Greece in 2020 one in four packs of cigarettes was illegal, according to the latest research of KPMG.
“Greece ranks second after France with the highest percentage of illegal cigarettes,” he noted.
It is reminded that in previous years our country had a negative lead.
Losses to the public coffers from the illicit trade in cigarettes reached 551 million euros in 2020 alone, while, cumulatively from 2015, the lost revenues for the State reached 4 billion euros.
The importance of public-private sector cooperation in the fight against smuggling is crucial, said Mr. Mastrokostas.
“The solution can only come through public-private partnerships, as it leads to multiplier benefits for all. The collaboration is a notion “innate” to Papastratos. “Since 2012, we have invested more than 6 million euros in actions in support of the work of law enforcement authorities and in public information actions.”
Latest News
Internet Users in Greece Rise Exponentially, Survey Suggests
Those between the ages of 65 and 74 have shown a high rate of digital engagement, with daily usage over the past five years increasing by 61%.
Vardis Vardinogiannis: ‘On a Ship’s Bridge You Always Look Forward’
Ten milestones in the half century since the creation of Motor Oil Group, as described by Vardis Vardinogiannis, who passed away on Tuesday at the age of 91
DBRS Says Greek Banks ‘Shielded’ from ECB Rate Cuts
The agency explains that fund disbursements through the banking sector will help offset pressures anticipated on interest margins beginning in 2025, due to expected rate cuts by the European Central Bank (ECB).
Meta Cuts Facebook and Instagram Subscription Fees by 40%
The social media giant also revealed that it will continue to offer free access to Facebook and Instagram for EU users, provided they agree to see ads based on a limited set of user data.
Skyrocketing Use of Debit, Credit Cards
The total value of the transactions conducted with debit and credit cards in the country in the first half of 2024 rose 2% on the corresponding period of 2023
JP Morgan Revised Greece Outlook to ‘Overweight’
The investment bank notes that Greece is showing the strongest GDP growth in the Eurozone. Additionally, efforts to clear up bank balance sheets are anticipated to yield increased capital returns.
Vardis I. Vardinogiannis, Greek Tycoon and Shipping Magnate, Dies at 91
In 1990, Vardinogiannis was targeted in an attack which involved three rockets fired at his vehicle by the terrorist organization 17 November.
Kudos for Greek Sheep’s Milk Cheeses
Graviera is the Greek version of the Swiss gruyère, and is generally considered the second most popular cheese made in the country after feta
EIB Survey: Greeks Rank Climate Change as Top Concern After Cost of Living
Specifically, 98% of the Greeks surveyed stated that the country must to adapt to climate change, with 60% saying that priority should be given to these adjustment measures
Trump Tells Putin not to Escalate Ukraine War during Phone Convo
Meanwhile, President Joe Biden, is preparing to lobby Trump against abandoning U.S. support for Kyiv