According to the Budapest business daily, citing the state news agency MTI, Philip Morris International recently established an electronic cigarettes recycling center worth 3 billion Hungarian Forint (US $10.16 million) in the suburbs of Budapest, the capital of Hungary.
According to Miguel Coleta, director of sustainable development of PMI, the center can recycle 150000 electronic cigarette devices per month and continue to increase capacity.
He added that the company chose this location because of Hungary's economic stability and good investment environment.
State Secretary Tamas menczer said the investment created 100 jobs and pointed out that PMI had only one recycling center in Japan.
Last year, Hungary's Fimo international revenue exceeded HUF 130 billion ($440 million).