JTI Invests 30m Euros in Cigarette Production

Source from:  Ziarul Financiar 06/08/2009

Japan Tobacco International (JTI), the third largest player on the Romanian cigarette market, has a 30 million-euro investment underway in two new production lines on the Romanian market. This is the only major investment project announced on the Romanian cigarettes market in 2009. "We intend to invest 30 million euros in two new production lines in boosting the plant's degree of automation by mid-2010. We expect an around 25% increase in our production capacity against 2008, following these investments," said Gilda Lazar, Corporate Affairs and Communications Director within JTI Romania, Bulgaria and Croatia. The JTI plant in Pipera (Bucharest) currently exports one in five cigarettes to 35 markets, with company forecasts indicating a rise in volumes delivered to foreign markets by around 15% next year. JTI Manufacturing, held by JTI on the Romanian market, posted a 1,406 million-RON (382 million-euro) turnover last year, up 35% against 2007, and a 20.4 million-RON (5.5 million-euro) net profit, according to data provided by representatives of the manufacturer. Enditem