Connect with us

Hi, what are you looking for?

Editor's Pick

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

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Investing

    Overview Steppe Gold (TSX:STGO) is a precious metals development company and gold and silver producer in Mongolia. The company owns the Altan Tsaagan Ovoo...

    Latest News

    Rescuers are searching through rubble and trying to reach isolated communities after a devastating earthquake struck Morocco, killing thousands and leaving more injured or...

    Stock

    LIVE OAK, Fla. — President Biden traveled to Florida on Saturday to survey the damage caused by Hurricane Idalia, part of a storm response...

    Investing

    Investor Insight EMU NL is an Australia-focused base and precious metals exploration company offering a compelling opportunity in the highly lucrative copper space. A...

    Disclaimer: Smartmerchantknow.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 smartmerchantknow.com