烟草在线据Business Mirror报道编译 尽管面临来自全球金融危机的挑战，菲莫菲律宾制造公司承诺明年年初投资10亿比索的苏比克湾自由港的新烟叶仓库将开始建设。
Philip Morris expects warehouse project in Subic completed in '09
Wednesday, 29 October 2008 23:30
DESPITE the challenges arising from the global financial crisis, Philip Morris Philippines Manufacturing Inc. (PMPMI) has committed to push through with its P1-billion investment for a new tobacco leaf warehousing facility in Subic Bay Free Port early next year.
Chris Nelson, PMPMI managing director, said the detailed planning works for the purpose-built warehouse are ongoing and they are targeting to start construction next year so it would be ready by 2010.
It will replace the existing tobacco leaf warehouse of the company in Subic and quadruple the current 6,000-ton capacity.
"Despite the emerging challenges, we are expanding and we are growing. That is the good news to the economy and the local tobacco industry," Nelson said at the inauguration of PMPMI's new P70-million warehouse that can store one billion sticks of cigarette at the company's Tanauan, Batangas plant Wednesday.
The PMPMI executive said the company will be increasing production both for the local market and Thailand, although he refused to provide details.
This is one reason, he said, they need to put up bigger warehouses for raw materials and finished products.
PMPMI will also be partnering with tobacco leaf providers Universal Leaf and TransManila to help local farmers improve the quality of their produce.
With the ongoing crisis, Nelson said there is going to be a shift in buying pattern, with consumers probably opting for cheaper variants.
In anticipation of this development, PMPMI, which accounts for about 28 percent of the local market, will push the 10-piece and five-piece cigarette packs, and also strengthen marketing efforts.
In another development, Nelson said the current tax regime in the country has allowed his company to plan better so they are hoping that any initiative to alter the excise tax policy anew will be put on hold.
"This is the time to study [new proposals] but not the time to change [the current excise tax regime]," he said.
Nelson pointed out that the law already provides for adjustments in the excise tax rates every two years up to 2011.