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Sampoerna, parent invest on cigarette factory
Cigarette maker PT Philip Morris Indonesia (PMID) and its Jakarta-listed subsidiary PT HM Sampoerna announced on Wednesday that they would invest up to US$96 million to build a new factory
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igarette maker PT Philip Morris Indonesia (PMID) and itsJakarta-listed subsidiary PT HM Sampoerna announced on Wednesday that theywould invest up to US$96 million to build a new factory.
The company said the new factory, which would produce white and clove cigarettes, would be located next to an existing factory in Karawang, West Java.
The new factory would also have a facility to process tobacco, which would reduce the company's dependency on imports of the leaves to produce one of its main products, branded Marlboro. The new factory is scheduled to be completed in 2014.
PMID and Sampoerna claimed to have exported tobacco products worth $24 million in 2012. 'It is expected that [the value] will increase at least by two fold in 2013, following the production increase,' the company said in a written statement, adding it had put aside $78 million in 2011 to boost production capacity.
