The United States-based cigarette manufacturer, Philip Morris, expects to complete the transfer of its tobacco operation's international headquarters from New York to Lausanne by June 2002.
The company is the third American tobacco giant to relocate its headquarters to Switzerland.
Philip Morris said the move would benefit Lausanne. "New jobs will be created here," said spokesman Rémi Calvet in an interview with French-language newspaper "24 Heures". However he didn't specify exactly how many new posts would be created.
He added that the international headquarters of Philip Morris' tobacco business employs some 300 staff in New York, but said "only a few of these will be moving to Lausanne".
Rémi Calvet described the move to as "pure business decision", saying only senior management would be moving to Lausanne.
The tobacco giant's business activities in Europe, Africa and the Middle East are already handled from Lausanne, and there has been a Philip Morris office in the city since 1964.
Philip Morris employs 2,500 staff in Switzerland, 1,300 in Lausanne and 1,200 in Neuchâtel.
The move was first announced in January.
swissinfo with agencies
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