Philip Morris invests UAH 60 mln in construction of shelter in Lviv region
Philip Morris in Ukraine has opened a new modern shelter on the territory of a factory in Lviv region, in which it invested about UAH 60 million, the company said in its press release.
"In the current conditions, the safety of our people is not just a requirement of the time, but also our responsibility (…) We continue to invest in Ukraine, and these investments demonstrate our long-term strategy as an investment ambassador and support for the economy in martial law conditions," CEO of the company Maksym Barabash said.
The shelter is designed for 170 people and will provide protection for both factory employees and local residents during air raids or emergencies. It fully complies with all current safety requirements and standards and is designed for comfortable stay of people for 48 hours.
The space is equipped with a ventilation system using explosion-proof valves and air conditioning, an alarm and fire extinguishing system with backup power, a water supply and sewage system, a heating system, radio broadcasting, telephone communication and video surveillance, places for rest and seating, a supply of water and food in case of a long stay. The shelter takes into account the needs of people with disabilities. The premises include a medical corner, sanitary facilities, shower rooms and a kitchen space.
Construction of the shelter started in September 2024 after the launch of the factory, in which the company invested $30 million. Before that, the workers used a modernized shelter on the territory of Lviv city territorial community, where the company invested approximately UAH 1.3 million.
Philip Morris was spun off from Altria in 2008 and is one of the world's largest tobacco manufacturers. The company's revenue in 2023 increased by 10.7% compared to 2022, to $35.2 billion. The report indicated that Ukraine accounted for approximately 2% of total sales in kind and 1% in money.
In 2022, PMI reduced shipments to the Ukrainian market by 30.1% due to the war, to 11.07 billion cigarettes and tobacco joints, but in 2023 it managed to increase shipments of finished products by 8.4%, in particular in the fourth quarter by 14.9%. In October 2023, the company reported the restoration of its share in the Ukrainian market to 24%. In 2024, Ukraine's figures were excluded from PMI's quarterly reports.
In addition to cigarette production, PMI develops and manufactures smokeless products - electrically heated tobacco products (ETTP), nicotine-containing POD systems, as well as nicotine products for oral administration. Sales from smokeless products provided 39% of PMI's total net income in the first quarter of 2024 and 38% in the third.
Philip Morris Ukraine has been operating on the Ukrainian market since 1994 and during this time has invested more than $750 million in the Ukrainian economy. Since the beginning of the full-scale invasion, it has allocated more than UAH 400 million for humanitarian projects.