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

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
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
65-year-old quit his job and emptied his life savings to start a business — now he’s worth $11 billion
next post
Top 5 Canadian Lithium Stocks of 2024

Related Posts

Global crude departures remain high, but oversupply fears...

August 21, 2025

Lululemom stock faces a double whammy: $130 target...

April 9, 2025

IonQ stock price forecast ahead of earnings: will...

February 25, 2025

Activist investors: power players or catalysts for long-term...

October 6, 2024

GM slows its EV plans again even as...

July 25, 2024

Which US sectors are most at risk from...

April 7, 2025

What is the future of Lucid Group and...

September 12, 2024

GLD ETF forecast as gold price forms a...

January 3, 2025

Shell Q3 earnings: British oil giant posts $6B...

October 31, 2024

Walmart earnings preview: What to expect before Thursday’s...

February 20, 2025

    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

    • FBI raid on John Bolton’s home in Washington linked to classified documents

      August 25, 2025
    • Argentine senate deals blow to Milei’s austerity agenda with university budget boost

      August 25, 2025
    • Jackson Hole Symposium: what Powell said about economic effects of Trump’s tariffs

      August 25, 2025
    • At Jackson Hole, Fed Chair Powell signals possible cuts while warning of uncertainty

      August 25, 2025
    • Trump threatens to fire Fed Governor Lisa Cook amid mortgage fraud allegations

      August 25, 2025

    Categories

    • Business (3,753)
    • Investing (2,776)
    • Latest News (2,048)
    • 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