• 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

JPMorgan marks 1,000th branch opening since 2018 expansion...

August 1, 2025

Apple crushes Wall Street expectations as iPhone sales...

August 1, 2025

Ontario cancels internet deal with Musk’s Starlink as...

July 31, 2025

Trump ends de minimis exemption for global low-cost...

July 31, 2025

Recall warns some Celsius energy drink cans accidentally...

July 31, 2025

Union Pacific to buy Norfolk in $85 billion...

July 29, 2025

Things are getting better at Boeing under CEO...

July 29, 2025

Elon Musk confirms Tesla has signed a $16.5...

July 28, 2025

Palantir joins list of 20 most valuable U.S....

July 26, 2025

FCC greenlights Paramount’s $8 billion merger with entertainment...

July 25, 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

  • Mike Johnson wins Republican support to be House speaker again after Trump endorsement

    November 13, 2024
  • Kamala Harris now backed by more than half of delegates needed to win nomination: report

    July 22, 2024
  • House Republicans nearing vote on Trump’s ‘Big, Beautiful Bill’

    May 22, 2025
  • Kamala Harris offers vague ‘Day 1’ Oval Office plan in CNN interview: ‘A number of things’

    August 30, 2024
  • USDCAD and USDCNH: USDCNH is in a positive trend

    August 27, 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 (5,603)
  • Investing (634)
  • Stock (867)

Latest Posts

  • White House freeze on federal aid won’t affect student loans, Education Department says

    January 29, 2025
  • Trump criticizes Schumer, says Dem leader ‘has become a Palestinian’

    March 12, 2025
  • Intel offloads stake in UK chip designer Arm amid restructuring push

    August 14, 2024

Recent Posts

  • A kinder, gentler Trump? President-elect taking a more moderate stance

    December 11, 2024
  • 10 Dems vote with GOP to rebuke Biden officials over chaotic Afghanistan withdrawal

    September 25, 2024
  • Synapse mess: Banks advance in unlocking $96 million for 100,000 fintech users

    July 11, 2024

Editor’s Pick

  • Trading Economics: The True Risks and Rewards

    July 15, 2024
  • Ted Cruz wants Uncle Sam to give each American baby $1,000

    May 13, 2025
  • Trump FBI director pick Kash Patel ‘instrumental in unraveling’ Russia collusion hoax, former chair says

    December 10, 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