Insiders Advisor
  • Stocks
  • World News
  • Business
  • Politics
  • Stocks
  • World News
  • Business
  • Politics

Insiders Advisor

Business

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

by July 17, 2024
July 17, 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
previous post
Dow rises 200 points to close at a record
next post
Shares in gun manufacturers soar after Trump assassination attempt

Related Posts

Stanley tumbler ‘quenchers’ maker is being sued over...

February 24, 2024

U.S. judge finds Google holds illegal online ad...

April 18, 2025

Costco hikes membership fee for the first time...

July 11, 2024

Aviation incidents seem to be proliferating, but experts...

March 10, 2024

Capital One outage drags into Friday afternoon, leaving...

January 18, 2025

Former Ozy Media head sentenced to nearly 10...

December 17, 2024

A ‘man-made disaster’ could make it trickier to...

August 26, 2024

Visa and MasterCard settle long-running antitrust suit over...

March 28, 2024

Bissell recalls 3.2 million handheld steam cleaners after...

July 23, 2024

Living off $2,400 a month, a 71-year-old widow...

July 18, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Latest News

    • Israel releases conversations with Gaza residents amid criticisms of aid delivery system

      July 1, 2025
    • Iran, following Trump strikes, says ‘the doors of diplomacy will never slam shut’

      July 1, 2025
    • Elon Musk’s attacks on Trump’s ‘big, beautiful bill’ have ‘no basis,’ says No 2 House Republican

      July 1, 2025
    • Trump says DOGE ‘monster’ may have to ‘eat Elon’ as Musk vows primary ads for lawmakers who cross him on BBB

      July 1, 2025
    • Senate parliamentarian OKs ban on Planned Parenthood federal funding in Trump megabill

      July 1, 2025
    • 4 Senate amendments to Trump megabill that failed — and 1 that passed

      July 1, 2025

    Categories

    • Business (1,288)
    • Politics (6,227)
    • Stocks (904)
    • World News (460)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: insidersadvisor.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 © 2024 insidersadvisor.com | All Rights Reserved