American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Philip Morris to invest $232 million to expand ZYN production at Kentucky plant

by admin August 30, 2024
August 30, 2024
Philip Morris to invest $232 million to expand ZYN production at Kentucky plant

Philip Morris International said on Tuesday it would invest $232 million to expand production capacity for ZYN nicotine pouches at its Ownesboro, Kentucky plant, to meet the strong demand.

The investment will be made through one of PMI’s Swedish Match affiliates, and comes about a month after the tobacco giant announced an investment of $600 million to open a ZYN manufacturing facility in Colorado.

Shipments of ZYN slowed to a growth of 54% in the second quarter, reported in July, as demand for the product created short-term supply chain constraints and impacted volume growth.

ZYN, an alternative to traditional chewing tobacco products, is a nicotine pouch, which, according to Philip Morris, does not contain tobacco.

Philip Morris bought Zyn-parent Swedish Match in a $16 billion deal in 2022, as tobacco companies vied for alternatives to traditional tobacco products in their portfolio amid greater health awareness and stricter regulations.

In June, PMI suspended online sales at ZYN.com across the U.S. after it received a subpoena from the District of Columbia requesting information about its compliance with D.C.’s 2022 ban on the sale of all flavored tobacco.

There were also concerns that illicit sales of ZYN — amid supply gaps — could chip away at the numbers for PMI during the company’s second-quarter conference call in July.

Construction for expansion of the Kentucky facility was underway, and PMI expects to complete it by the second quarter of 2025.

In order to boost production, the facility will operate at a 24-hour, seven-days-a-week basis starting from the fourth quarter this year, PMI said.

The company had said in July the expansion was expected to provide around 900 million cans of capacity for ZYN for 2025.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Ford joins list of companies walking back DEI policies
next post
NFL owners vote in favor of private equity investment

Related Posts

Nifty 50 Index stocks to watch next week:...

August 1, 2025

Classic car sales stall in Monterey auctions as...

August 30, 2024

Top Dow Jones stocks laggards in Q1 have...

April 1, 2025

Samsung to invest $1.8 billion in new OLED...

September 23, 2024

Europe markets open: FTSE 100 gains, Stoxx 600...

June 10, 2025

US widens AI export bans to 80 firms,...

March 26, 2025

Hang Seng index rebounded but faces substantial risks...

September 22, 2024

Long BRMN: BioMarin Pharmaceutical Rebounds After Sharp Drop;...

September 18, 2024

Why are Dollar Tree and Dollar General stocks...

September 21, 2024

Zyn-maker Philip Morris announces $600 million Colorado facility...

July 18, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


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

    Latest News

    • How Donald Trump’s immigration crackdown may tank the labor market

      August 4, 2025
    • Trump’s tariff threat looms over India’s Russian oil deals

      August 4, 2025
    • Trump moves nuclear submarines near Russia: what triggered the move and what’s ahead

      August 3, 2025
    • BOE rate cuts offer little relief as UK households face mounting financial strain

      August 3, 2025
    • Retail investors shift focus to Europe as US valuations stretch

      August 3, 2025

    Categories

    • Business (3,573)
    • Investing (2,700)
    • Latest News (2,031)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.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 americaninvesthub.com | All Rights Reserved