Philip Morris International (PMI) is investing an additional PHP8.8bn ($150m) in its affiliate company PMFTC to increase production of its Heets heated tobacco sticks in the Philippines.
The investment in the company, a 50/50 joint venture between PMI and the Filipino LT Group, will benefit the entire PMI tobacco supply chain as tobacco grown in the Philippines has been approved for inclusion in the manufacture of heated tobacco sticks.
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