TPD a costly exercise

The Scandinavian Tobacco Group (STG) says that it spent about DKK250 million (US$30 million) during the past two years in preparing for the EU’s revised Tobacco Products Directive (TPD), which took effect on May 20, according to a Borsen story relayed by the TMA.

Much of the expenditure was incurred in ensuring that its products were available in individual markets during the transitional period.

STG CEO Niels Frederiksen said the EU had been “too hasty” in implementing the TPD.

However, he said he did not expect the measures to have a significant impact on the company’s income.