{"id":647763,"date":"2017-05-18T03:54:24","date_gmt":"2017-05-18T03:54:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/eastern-company-pmi-agree-on-new-prices-for-cigarette-production\/"},"modified":"2017-05-18T03:54:24","modified_gmt":"2017-05-18T03:54:24","slug":"eastern-company-pmi-agree-on-new-prices-for-cigarette-production","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/eastern-company-pmi-agree-on-new-prices-for-cigarette-production\/","title":{"rendered":"Eastern Company, PMI agree on new prices for cigarette production"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> The Eastern Tobacco Company will be producing up to 15 bn cigarettes for Philip Morris International at USD 5.8 per 1,000 units and between 15-22 bn cigarettes at USD 6.2 per 1,000 cigarettes, the company said in a <a href=\"http:\/\/www.egx.com.eg\/downloads\/News\/%D8%A7%D9%8A%D8%B3%D8%AA%D8%B1%D9%86%20%D9%83%D9%88%D9%85%D8%A8%D8%A7%D9%86%D9%89%20%D8%A8%D9%8A%D8%A7%D9%86%2017-05-2017.pdf\">regulatory filing (pdf)<\/a> on Wednesday. Philip Morris will pay Eastern Company in EGP using a fixed exchange rate of EGP 18 to the greenback, as we had <a href=\"https:\/\/enterprise.press\/stories\/2017\/03\/02\/philip-morris-settles-with-eastern-company-future-payments-to-be-in-egp-equivalent\/\">noted previously<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Eastern Tobacco Company will be producing up to 15 bn cigarettes for Philip Morris International at USD 5.8 per 1,000 units and between 15-22 bn cigarettes at USD 6.2 per 1,000 cigarettes, the company said in a regulatory filing (pdf) on Wednesday. Philip Morris will pay Eastern Company in EGP using a fixed exchange [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9309],"tags":[2416,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-647763","post","type-post","status-publish","format-standard","hentry","category-basic-materials-commodities","tag-basic-materials-commodities","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"bdeff200-e764-402e-b95f-1bc4f9e60e00","order":"0","is_powered_by":true,"section_story_id":"ea9ef5aa-6f5e-4199-9c10-a76d11b4ad11","story_type":"1","photo_url":"","photo_position":"above","related_issue":[647734],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Eastern Company, PMI agree on new prices for cigarette production - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/eastern-company-pmi-agree-on-new-prices-for-cigarette-production\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eastern Company, PMI agree on new prices for cigarette production\" \/>\n<meta property=\"og:description\" content=\"The Eastern Tobacco Company will be producing up to 15 bn cigarettes for Philip Morris International at USD 5.8 per 1,000 units and between 15-22 bn cigarettes at USD 6.2 per 1,000 cigarettes, the company said in a regulatory filing (pdf) on Wednesday. Philip Morris will pay Eastern Company in EGP using a fixed exchange [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/eastern-company-pmi-agree-on-new-prices-for-cigarette-production\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-18T03:54:24+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/eastern-company-pmi-agree-on-new-prices-for-cigarette-production\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/eastern-company-pmi-agree-on-new-prices-for-cigarette-production\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Eastern Company, PMI agree on new prices for cigarette production\",\"datePublished\":\"2017-05-18T03:54:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/eastern-company-pmi-agree-on-new-prices-for-cigarette-production\/\"},\"wordCount\":71,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Basic Materials + Commodities\",\"EnterpriseAM\"],\"articleSection\":[\"Basic Materials + Commodities\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/eastern-company-pmi-agree-on-new-prices-for-cigarette-production\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/eastern-company-pmi-agree-on-new-prices-for-cigarette-production\/\",\"name\":\"Eastern Company, PMI agree on new prices for cigarette production - 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The volume of smuggled and unlicensed cigarettes in Egypt account over 12% of all those consumed, PMI explained. Al Borsa notes that local manufacturer Eastern Company\u2026","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":649542,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/02\/philip-morris-settles-with-eastern-company-future-payments-to-be-in-egp-equivalent\/","url_meta":{"origin":647763,"position":1},"title":"Philip Morris settles with Eastern Company, future payments to be in EGP equivalent","author":"enterpriseam admin","date":"2 March 2017","format":false,"excerpt":"Eastern Company announced it reached an agreement with Philip Morris International to get it \u201cto pay back outstanding debt and make future payments in the local currency,\u201d Reuters reports. Philip Morris had halted paying dues to Eastern Company in USD in return for its production last year. Philip Morris is\u2026","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":638575,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/09\/eastern-company-sold-83-bn-cigarettes-in-egypt-last-fy\/","url_meta":{"origin":647763,"position":2},"title":"Eastern Company sold 83 bn cigarettes in Egypt last FY","author":"enterpriseam admin","date":"9 October 2017","format":false,"excerpt":"Egyptians smoked EGP 36.7 bn-worth of cigarettes in FY 2016-17, up form EGP 28.5 bn a year earlier, data from Eastern Company showed. The company increased its production output to 83 bn cigarettes from 80 bn a year earlier, the data also showed. Eastern Company exported EGP 103.5 mn worth\u2026","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":620594,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/philip-morris-snaps-up-14-7-stake-in-eastern-company\/","url_meta":{"origin":647763,"position":3},"title":"Philip Morris snaps up 14.7% stake in Eastern Company","author":"enterpriseam admin","date":"23 May 2024","format":false,"excerpt":"Philip Morris bought the stake from new shareholder Emirati Global Investment Holding","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1875.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596020,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/18\/eastern-tobacco-raises-prices-of-some-products\/","url_meta":{"origin":647763,"position":4},"title":"Eastern Tobacco raises prices of some products","author":"enterpriseam admin","date":"18 August 2019","format":false,"excerpt":"Eastern Tobacco raised the prices of its Mundial and Black Label cigarettes by EGP 1, the company said in a bourse filing (pdf). Mundial cigarettes now cost EGP 17.5 per pack and Black Label costs EGP 23 per pack. The increase is due to VAT, the company said.","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651570,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/15\/eastern-company-says-pmi-owes-it-usd-78-2-mn\/","url_meta":{"origin":647763,"position":5},"title":"Eastern Company says PMI owes it USD 78.2 mn","author":"enterpriseam admin","date":"15 February 2017","format":false,"excerpt":"The Eastern Company for tobacco said it is owed USD 78.2 mn from Philip Morris International (PMI) for manufacturing in 1Q2016-17 as well as EGP 33.5 mn in sales tax due for 1H2016-17, according to Al Mal. 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