• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

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

by August 29, 2024
written by August 29, 2024

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 comment
0
FacebookTwitterPinterestEmail

previous post
EURGBP and EURCHF: EURCHF halted its fall this morning
next post
With 8 days until voting starts, ‘election season’ kicks off sooner than you think

related articles

Cracker Barrel shares plummet after pushback on new...

August 22, 2025

Walmart boosts sales outlook as it says tariff...

August 21, 2025

How a ship that glides like a pelican...

August 21, 2025

Apple just landed a key win for the...

August 20, 2025

Best Buy launches third-party marketplace as it looks...

August 19, 2025

Group accused of using fake accounts to buy...

August 19, 2025

Playboy moving its headquarters to Miami Beach and...

August 17, 2025

Lyft co-founders to step down from ride-hailing firm’s...

August 16, 2025

Warren Buffett’s Berkshire Hathaway reveals new stake in...

August 16, 2025

Apple Watch getting redesigned blood oxygen feature following...

August 15, 2025
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!

Latest News

  • Dropbox slashes 20% of global workforce, eliminating more than 500 roles

    October 31, 2024
  • Trump’s ‘big, beautiful bill’ suffers massive defeat in key hurdle before House-wide vote

    May 16, 2025
  • Dow and S&P 500 rebound on hopes of tariff deals; Broadcom shares jump, healthcare stocks post notable gains

    April 9, 2025
  • Melania Trump speaks on Capitol Hill for first time in roundtable focused on punishing revenge porn

    March 3, 2025
  • Tulsi Gabbard says she would be ‘honored’ to join a potential Trump administration

    September 17, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,789)
  • Investing (634)
  • Stock (894)

Latest Posts

  • Ukraine regaining pre-2014 borders is ‘unrealistic objective,’ Hegseth says in first NATO visit

    February 12, 2025
  • House GOP releases scathing report on Biden’s withdrawal from Afghanistan

    September 8, 2024
  • Senate Republicans plan hearing on Biden’s alleged cognitive decline cover-up

    May 29, 2025

Recent Posts

  • Trump announces pick of real estate tycoon Steven Witkoff for Middle East envoy

    November 13, 2024
  • Storm Debby Brings Heavy Rainfall, Flooding to Carolinas

    August 9, 2024
  • Senate Republican moves to give US an edge on China in harvesting minerals for weapons systems

    July 9, 2025

Editor’s Pick

  • ‘Only the beginning’: Trump admin releases data showing federal workforce slashed since January

    July 1, 2025
  • Trump nominates Susan Monarez to become the next CDC director, says Americans ‘lost confidence’ in agency

    March 25, 2025
  • Disneyland workers reach tentative deal with company, averting strike

    July 25, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.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 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock