Papastratos, an affiliate of Philip Morris International (PMI), has been a leader in the production and commercialization of smoke-free tobacco products and cigarettes, in Greece, for the past nine decades. In 2017, the company turned the page and, with a significant €300-million investment, transformed its factory in Aspropyrgos into an exclusive heated tobacco sticks production unit for IQOS, the first innovative PMI product which potentially holds a lower-risk than cigarettes. Papastratos is inextricably linked to the revolution οf manufacturing industry, the country’s economic development and the support towards society. In April 2019, the US Food and Drug Administration (FDA) authorized the marketing of IQOS in U.S.A, while in July 2020, the FDA approved IQOS as a modified risk tobacco product, appropriate to promote public health. By September 2021, approximately 14.9 million adult smokers around the world and more than 330.000 in Greece have chosen this new technology, available in more than 70 countries. In June 2021, on Papastratos’ 90th anniversary, the company announced its Sustainability Strategy for the next five years. At the same time, the company announced a new important €125-million investment in its factory in Aspropyrgos, which has a significant exporting activity.
By continuously investing in science and new technologies, Papastratos aims to create value, for the company, its people, the environment, and society. Its extensive Social Responsibility program, the multiple awards as Best Workplace and Top Employer, its achievement as the first Greek company to acquire the Equal Salary certification and the first “Smoke-Free” company in Greece prove that Sustainability Strategy is at the forefront of its business activities.