New Market Perspective
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

New Market Perspective

Business

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

by admin 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

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
Amazon’s Prime Day a ‘major’ cause of worker injuries, Senate probe finds

Related Posts

Consumers await key inflation data as hopes for...

February 13, 2024

As Tesla layoffs continue, here are 600 jobs...

May 18, 2024

Rivian secures up to $5 billion from Volkswagen;...

June 27, 2024

Richard Parsons, former Time Warner CEO, dies at...

December 28, 2024

The ‘funflation’ effect: Why Americans are spending on...

June 27, 2024

Nissan issues ‘do not drive’ warning for 84,000...

May 31, 2024

Economic uncertainty reigns as the grip of inflation...

April 10, 2024

NBC ripped up its Olympics playbook for 2024...

September 4, 2024

JPMorgan Chase is giving its employees an AI...

August 12, 2024

SEC Chair Gary Gensler will step down Jan....

November 23, 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.

    Latest

    • At 90, the Dalai Lama braces for final showdown with Beijing: his reincarnation

      July 4, 2025
    • Russia becomes first nation to recognize Taliban government of Afghanistan since 2021 takeover

      July 4, 2025
    • Two arrested over ‘Chinese blessing scams’ targeting elderly Asian women in Australia

      July 4, 2025
    • Russia launches record number of drones at Ukraine after latest Trump-Putin phone call

      July 4, 2025
    • Elephant kills two female tourists from the UK and New Zealand in Zambian national park

      July 4, 2025
    • What is happening in South Korea? Seoul has caught the lovebug that nobody wants

      July 4, 2025

    Popular

    • 1

      Top 5 Junior Copper Stocks on the TSXV in 2023

      December 22, 2023
    • 2

      Canada Silver Cobalt Begins Drilling at Lowney-Lac Edouard in Quebec, Targeting Nickel-Copper-Cobalt Mineralization

      December 22, 2023
    • 3

      Crypto Market 2023 Year-End Review

      December 22, 2023
    • 4

      10 Top Oil-producing Countries (Updated 2024)

      October 19, 2024
    • 5

      Top 10 Uranium-producing Countries (Updated 2024)

      April 18, 2024
    • 6

      Powered by rain, this seed carrier could help reforest the most remote areas

      December 19, 2023
    • 7

      A troubling theory about traders profiting from Hamas’ attack on Israel drew much attention. Why it may not be so simple.

      December 13, 2023

    Categories

    • Business (1,398)
    • Investing (3,442)
    • Politics (4,517)
    • World (4,416)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: newmarketperspective.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 newmarketperspective.com | All Rights Reserved