JTI Ukraine CEO Paul Holloway said that in the next two years it is planned to invest in the modernization of the factory about $45 million. Two years ago, the amount of investment was $2-3 million a year.
Kyiv. Ukraine. Ukraine Gate – April 29, 2021 – Economy
It is noted that this is due to the fact that the entire production will be modernized, not a separate production line. This year it is planned to expand the factory, build a new warehouse, as well as modernize the tobacco shop.
Paul Holloway confirmed that the volume of the cigarette market in Ukraine is declining from year to year by about 15%. The factory in Kremenchug in 2020 produced 15.9 billion cigarettes, of which 38% were produced for export.
The head of JTI Ukraine also noted that despite the reduction of the Ukrainian market, exports remain stable.
“We plan to turn the factory in Kremenchug into a large export hub. Our factory works very flexibly and can produce different types of products – we export not only cigarettes, but also, for example, filters, which are then used to produce cigarettes in our other factories. Therefore, we hope that our factory in Ukraine will continue to increase exports, “said Holloway.
According to Paul, almost all products for the Ukrainian market are produced in Ukraine, less than 1% is imported.
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Source: Ukrgate
