World's leading Philip Morris brands will be manufactured in Prilep alongside products of the tobacco company located in the city. Negotiations involving a strategic partnership have been concluded.
The strategic partnership, which has been confirmed by the company, is going to be realized by forming a new limited liability company with Philip Morris International Management having 51% participation in the capital and 49% participation of the Prilep Tobacco Company.
"On behalf of Philip Morris, I can confirm that for us the strategic partnership with the Prilep Tobacco Company is an opportunity to improve the company's operations in the Southeastern European cluster," stated Maja Shotra, the company's representative.
Philip Morris, she added, is convinced that the establishment of a new enterprise will improve the business opportunities in the country thus strengthening Philip Morris' presence in the region.
Speaking in Prilep on Wednesday evening, Prime Minister Nikola Gruevski said the text of the contract had been already agreed and was set to be signed after the elections.
"Negotiations took place for several months, now they are over and a contract will be signed right after the elections. The biggest giant in the tobacco industry is investing in Prilep," Gruevski stressed.
The joint investment agreement stems from a call for strategic partnership issued in July 2013. The newly-formed enterprise will be in charge of producing, distributing, promoting and selling the products from a joint portfolio on the local market. Moreover, the agreement secures significant amounts of Macedonian oriental tobacco to be used to meet the needs of Philip Morris.
