Philip Morris Operations

Philip Morris Operations or Niš Tobacco Factory, is a Serbian tobacco manufacturer based in Niš.

Philip Morris Operations
Native name
Филип Морис Операције
Joint-stock company
IndustryTobacco
Founded11 June 2003 (2003-06-11) (Current form)
Founded in 1930
Headquarters
Niš
,
Serbia
Area served
Serbia
Key people
Aleksandar Jakovljević (General director)
Revenue €175.70 million (2017)[1]
€32.41 million (2017)[1]
Total assets €183.16 million (2017)[2]
Total equity €128.20 million (2017)[2]
OwnerPhilip Morris International (99.69%)
Others
Number of employees
604 (2017)
Websitewww.din.co.rs

History
Monopol Building Niš

The Niš Tobacco Factory was established in 1930 as a part of the state tobacco monopoly at its present location in Crveni Krst neighborhood of Niš.[3] It was one of the largest cigarette manufacturers in Yugoslavia. It offered a variety of services, including the production of processed tobacco, tobacco cut filler, filters and other.[3]

During the 1990s, Niš Tobacco Factory had 3,500 employees and had tens of thousands cooperators in former Yugoslavia.[4] In 1999, during the NATO bombing of Yugoslavia, company's facilities were bombed allegedly by request of Philip Morris International.[5][4]

Niš Tobacco Factory was sold to Philip Morris in August 2003 for 518 million euros.[6] It later changed name to Philip Morris Operations. In 2012, workers union protested, stating that Philip Morris has never transferred 387 million euros to the Government of Serbia and also greatly reduced production.[4]

Market and financial data

As of 19 December 2018, Philip Morris Operations has a market capitalization of 97.20 million euros.[7]

References
  1. "БИЛАНС УСПЕХА (2017) - Philip Morris Operations". apr.gov.rs (in Serbian). Retrieved 18 October 2018.
  2. "БИЛАНС СТАЊА (2017) - Philip Morris Operations". apr.gov.rs (in Serbian). Retrieved 18 October 2018.
  3. Veličković, Ivan (29 July 2013). "Pogrešna privatizacija". koreni.rs (in Serbian). Retrieved 20 December 2018.
  4. Ristović, M. (28 September 2012). "Radnici Duvanske industrije Niš: Preispitati privatizaciju". novosti.rs (in Serbian). Retrieved 18 October 2018.
  5. Smiljanić, Spasoje (9 March 2009). "Podmukli udari s neba". novosti.rs (in Serbian). Retrieved 20 December 2018.
  6. ""Filip Moris" kupuje DIN, BAT kupuje DIV". b92.net (in Serbian). 5 August 2003. Retrieved 18 October 2018.
  7. "Market capitalization – DINNPB - Philip Morris Operations a.d. , Niš - 19.12.2018". belex.rs. Retrieved 20 December 2018.
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