XLP - Philip Morris Expands US Operations With $600M Colorado Plant | Benzinga
Philip Morris International Inc (NYSE:PM) has announced a $600 million investment through one of its U.S. affiliates to establish a manufacturing facility in Aurora, Colorado.
The new plant, expected to create 500 direct jobs and generate $550 million in annual economic impact, will also add 1,000 indirect jobs as it produces Swedish Match ZYN nicotine pouches to meet the rising demand for smoke-free products among legal-age consumers.
PMI aims to shift adult smokers in the U.S. away from traditional cigarettes by enhancing its U.S. manufacturing capabilities.
PMI Americas President and U.S. CEO Stacey Kennedy said, “We believe Colorado is likeminded in its commitment to innovation, economic opportunity and public health, and we’re eager ...