JTI Ukraine to Invest $60 Million in Ukraine’s Economy

by Roman Cheplyk
Tuesday, July 2, 2024
JTI Ukraine to Invest $60 Million in Ukraine’s Economy

JTI Ukraine, a leading producer of tobacco products, has announced an additional investment of $60 million in the Ukrainian economy over the next three years

This significant investment is part of the company's launch of its new product, the Ploom X Advanced electric tobacco heating device.

Ploom X Advanced: A New Flagship Product

  • Development and Technology: Developed in California and perfected in Japan, the Ploom X Advanced device utilizes the patented HeatFlow technology to evenly heat tobacco without combustion, producing no smoke.
  • Market Presence: Already available in 21 markets globally, Ploom X Advanced has garnered millions of consumers' favor. It is now available for sale in Kyiv and will soon expand to other regions in Ukraine through a dedicated website and branded sales points.

CEO Statement:

Svitlana Sharamok, CEO of JTI Ukraine, expressed optimism about the launch: "Ploom X Advanced has already won the favor of millions of consumers, and we are happy to provide this opportunity to Ukrainian consumers."

Commitment to Ukraine:

JTI Ukraine's decision to invest during a challenging period underscores the company's long-term commitment to the country's future. "New investments are an important step for any business, even in peacetime. We are steadfast in our faith in the future of Ukraine, which is why we are investing in its economy now, during the war," Sharamok added.

Historical Investment and Economic Contribution:

  • Previous Investments: Over the past 25 years, JTI Ukraine has invested more than $400 million in the Ukrainian economy.
  • Tax Contributions: In 2023, JTI Ukraine was one of the top five taxpayers, contributing UAH 24.7 billion to the national budget.

Supporting Employees and Business Resilience:

Since the onset of the full-scale war, JTI Ukraine has focused on the safety and well-being of its employees and their families. Now, the company aims to strengthen its business position and continue contributing to Ukraine's future.

Company Overview:

  • Operations: JTI Ukraine operates a central office in Kyiv, regional offices, and a factory in Kremenchuk, employing over 800 people.
  • Market Reach: Before the large-scale war, JTI Ukraine produced products for both the Ukrainian market and 22 foreign markets.

This strategic investment by JTI Ukraine reflects a strong commitment to not only supporting the country's economy but also to fostering business growth and stability in challenging times.

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