About Papastratos

Papastratos, an affiliate of Philip Morris International (PMI), has been a leader in the production and marketing of smoke-free products and cigarettes in Greece for nine decades. The corporate course of Papastratos is inextricably linked to the development of the industry, the economic development of the country, but also the contribution to society.

In 2017, the company turned a page in its history and, with a significant investment of 300 million euros, transformed its factory in Aspropyrgos into a dedicated production unit of heated tobacco sticks for IQOS, PMI's first innovative product with potentially reduced risk in relation to with the cigarette.

In July 2020, the US Food and Drug Administration (FDA) licensed IQOS as a differentiated risk product suitable for promoting public health. This new technology is available in 84 countries, it has been chosen by approximately 28.6 million adult smokers worldwide and more than 500,000 in Greece. In June 2021, on the anniversary of Papastratos' 90 years of operation, the company announced its Sustainable Development strategy for the next five years. At the same time, it announced a new major investment in its factory in Aspropyrgos, which exceeded 200 million euros. In February 2023, Papastratos announced a new, major investment of 200 million euros, which led to the creation of 300 new jobs and strengthened the company's export work, reaching an annual export value of 300 million euros.

With investments that since 2017 have exceeded 700 million euros, Papastratos creates value, both for the company, its people and for the environment and society. The extensive Social Responsibility program, the repeated awards as Best Work Place and Top Employer and its certification as the first company in Greece with Equal Salary and as the first "Smoke-Free" company in Greece prove that the Sustainable Development strategy is at the center of Papastratos' business activity.