Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

Zyn-maker Philip Morris announces $600 million Colorado facility to ramp up production

by admin July 18, 2024
July 18, 2024
Zyn-maker Philip Morris announces $600 million Colorado facility to ramp up production

Zyn users, rejoice: Production is about to ramp up in the U.S.

Philip Morris International (PMI), Zyn’s parent company, announced Tuesday it would invest $600 million to build a new production facility in Aurora, Colorado, dedicated to manufacturing the popular nicotine pouches.

The move comes as Zyn has been subject to nationwide shortages as a result of its runaway success.

“PMI and its U.S. affiliates are accelerating their mission to move adults who smoke away from cigarettes in the U.S. by investing in new U.S. manufacturing capacity to meet the increasing demand for nicotine options that are scientifically substantiated as better alternatives,” said PMI Americas President and U.S. CEO Stacey Kennedy in a statement.

“We believe Colorado is likeminded in its commitment to innovation, economic opportunity and public health, and we’re eager to work with the state and its talented workforce as we expand our U.S. manufacturing presence.” 

The facility will be constructed over the course of two years, creating 500 direct jobs that pay an average annual salary of $90,000, with ongoing annual economic impact of $550 million and an additional 1,000 indirect jobs. PMI also estimates 1,000 construction jobs will be created as the factory is stood up.

Tuesday’s announcement comes on top of a previously stated plan to increase Zyn production at an existing facility in Kentucky to provide more immediate relief to address the shortage.

Amid its widespread adoption, Zyn has also begun to face questions about its safety. PMI has said its products have been scientifically supported as better alternatives to traditional cigarette use. The FDA’s official stance is that nicotine is addictive and can lead to continued use of tobacco, and that any tobacco or tobacco-alternative products like Zyn are illegal to sell to users under the age of 21.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Dow rises 200 points to close at a record
next post
Top 5 NASDAQ Pharma Stocks of 2024

Related Posts

Tesla’s law firm drafts Delaware bill that could...

February 20, 2025

Why Ford believes its $1.9 billion shift in...

August 24, 2024

Amazon lays off over 100 employees in Wondery...

August 6, 2025

With Trump all-in on crypto, bitcoin bulls bet...

February 15, 2025

Shaking seats and piped-in fog: How 4DX is...

May 29, 2024

Household savings are thinning. Here’s how to put...

July 23, 2024

Trump accused Fed governor Lisa Cook of mortgage...

August 29, 2025

AMD CEO calls China a ‘large opportunity’ and...

May 8, 2025

From American Eagle to Swatch, why brands seem...

August 26, 2025

Social Security Administration to expand access to certain...

May 13, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Trump threatens ‘massive’ China tariffs, sees ‘no reason’ to meet with Xi

      October 11, 2025
    • White House turns to expanding Abraham Accords after Israel-Hamas ceasefire

      October 11, 2025
    • Georgia’s Mike Collins needles Ossoff in new ad over shutdown’s toll on airports, workers

      October 11, 2025
    • Bondi announces arrest of ‘coward’ who allegedly threatened conservative influencer following Kirk’s murder

      October 11, 2025
    • Johnson raises stakes on Schumer as government shutdown barrels into week 3

      October 11, 2025

    Categories

    • Business (1,117)
    • Investing (3,232)
    • Politics (3,936)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved