(From Hungarian News Agency (MTI))
Budapest, June 18, 2004 (MTI-ECONEWS) - Philip Morris Magyarorszag will cease production at its cigarette factory in Eger (NE Hungary) at the end of this year, and establish partnerships for direct retail distribution, the company announce don Friday.
Philip Morris Magyarorszag will focus on sales and distribution in order to improve its competitiveness in Hungary, the company said.
According to the local employment office, the closure of the Eger factory will mean that 206 of the 348 employees will lose their jobs. The company will re-employ the remaining staff in its new distribution system.