New facility to support company’s U.S. mission
to deliver a smoke-free future by moving legal-age consumers who
smoke to better alternatives
Aurora facility joins existing smoke-free
product manufacturing sites in Owensboro, Ky., and Wilson, N.C.
Today, Philip Morris International Inc. (PMI) (NYSE: PM)
announced an investment of $600 million over the next two years
through one of its U.S. affiliates to open a state-of-the-art
manufacturing facility in Aurora, Colo. The facility is expected to
create 500 direct jobs with ongoing annual economic impact of $550
million and an additional 1,000 indirect jobs* for the State of
Colorado as it produces Swedish Match ZYN nicotine pouches to help
meet the growing global demand from legal-age consumers for
smoke-free products.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240716269122/en/
Production of ZYN oral nicotine pouches
at the Swedish Match Owensboro, Ky., facility. (Photo: Business
Wire)
“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. “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.”
PMI’s U.S. affiliate plans to break ground on the new facility
later this year and to begin preliminary operations by the end of
2025 with regular production starting in 2026. The construction
phase of the project alone is expected to create nearly 5,000 jobs
related to the building of the facility with nearly $1 billion in
economic impact.* Career opportunities at the new facility will
cover a wide range of skill levels including positions such as
engineers, production staff, technicians and quality control, with
an anticipated average annual salary of around $90,000. Career
opportunities will be shared at
https://www.pmi.com/us/job-opportunities.
As previously announced, Swedish Match North America is also
currently working to increase ZYN oral nicotine pouch production at
its Owensboro, Ky., facility. Ongoing investments in both Owensboro
and Aurora are designed to provide sufficient capacity in the near
and mid-term for the current adoption growth rate of ZYN with U.S.
adult nicotine consumers, as well as capacity for exports.
PMI first entered the U.S. market following its acquisition of
Swedish Match in late 2022. Swedish Match’s ZYN oral nicotine
pouches have been on the market in the U.S. for more than a decade
and are designed as a better option for legal-age consumers who
smoke and wish to continue using nicotine.
PMI is headquartered in Stamford, Conn., and its U.S. affiliates
have more than 2,300 employees. PMI is on a mission to improve
public health by providing the nearly 30 million legal-age U.S.
consumers who smoke and other nicotine users with innovative
products that are better alternatives to smoking. Since 2008, PMI
has invested $12.5 billion globally to develop, scientifically
substantiate, and commercialize innovative smoke-free products for
legal-age nicotine consumers. PMI’s U.S. affiliates operate
smoke-free product manufacturing facilities including the Swedish
Match North America Owensboro, Ky., plant that makes ZYN nicotine
pouches and a facility in Wilson, N.C., that produces HEETS, the
consumable for the IQOS heated tobacco device. Swedish Match North
America has a regional office in Richmond, Va.
U.S. marketing practices support 21+ access only
PMI’s U.S. affiliates are committed to responsible marketing
practices focused on limiting access to adults 21 years of age and
older. PMI’s U.S. affiliates do not use social media influencers in
the U.S. or people under the age of 35 in marketing materials. They
also employ independent age-verification systems like “Double
Verify” to direct digital advertising to those over 21, and owned
digital platforms are age-gated at the point of access and
restricted to current nicotine users of legal age. Swedish Match
North America is a member of “We Card,” a national nonprofit
serving retailers of age-restricted products, and a founding board
member and investor in TruAge®, a free retail technology that
provides stores a more accurate way of age verification, including
the ability to detect fake IDs and ensure 21+ access only.
Smoke-free mission in the U.S.
Because adult nicotine consumer preferences differ, PMI’s U.S.
affiliates are working to offer a range of smoke-free options. This
effort includes investing in expanded production for nicotine
pouches and beginning targeted 21+ consumer activations of its
innovative IQOS heat-not-burn device in select U.S. markets this
year. IQOS is the first electronic nicotine device authorized by
the U.S. Food and Drug Administration (FDA) as a modified risk
tobacco product with reduced exposure claims. The FDA found that
such authorization is appropriate for the protection of the public
health. Although not risk-free, studies show that because IQOS
heats tobacco instead of burning it, the device significantly
reduces the production of and exposure to harmful and potentially
harmful chemicals compared to combustible cigarettes for adults who
smoke who switch to IQOS completely.
Commitment to corporate social responsibility
PMI’s U.S. affiliates have contributed approximately $25 million
to charitable causes since 2022 and look to accelerate and amplify
the good work of organizations already active within communities
through both financial contributions and volunteering. Three key
focus areas include supporting military veterans, empowering women
and funding hyperlocal solutions. PMI’s U.S. affiliates also helped
form “United to Safeguard America from Illegal Trade” (USA-IT), a
coalition of nearly 100 national and state brand enforcement
experts, law enforcement agencies, academics and leading business
organizations working to combat illegal trade. USA-IT has trained
more than 36,000 law enforcement officials.
Philanthropic partnerships in Colo.
PMI’s U.S.-based affiliates have announced their commitment to
veterans in Colorado with an investment of $350,000 over two years
to the Rocky Mountain Veterans Advocacy Project, a Colorado-based
law clinic to help veterans in need access the benefits and care
they’ve earned through their service. They also plan to support the
Veterans Community Project that provides veterans’ housing with
$100,000 directed to Colorado case management and are making
donations to Colorado Gold Star Mothers, the Colorado Freedom
Memorial, Hire Heroes USA directed to Colorado homeless veterans
hiring, Soldier’s Angels for food provisions and Musicians on Call
for Veterans Administration hospital visits. They also have
committed $250,000 a year for the next eight years to the flexible
housing fund that benefits residents of Adams County and the City
of Aurora by supporting transitional housing for those in need.
*Estimates provided from economic impact analysis study
conducted by EConsult Solutions, a Philadelphia-based economics
consulting firm.
Additional multimedia assets
To learn more about the Colorado facility, view the supporting
video news release http://u.pc.cd/E6F.
Philip Morris International in the U.S.: Delivering a
Smoke-Free Future
Philip Morris International and its U.S. affiliates are working
to deliver a smoke-free future. Since 2008, PMI has invested $12.5
billion globally to develop, scientifically substantiate and
commercialize innovative smoke-free products for adults who would
otherwise continue to smoke with the goal of transitioning
legal-age consumers who smoke to better alternatives. In 2022, PMI
acquired Swedish Match – a leader in oral nicotine delivery –
creating a global smoke-free champion led by the IQOS and ZYN
brands. The U.S. Food and Drug Administration has authorized
versions of PMI’s IQOS electronically heated tobacco devices and
Swedish Match’s General snus as Modified Risk Tobacco Products and
renewal applications for these products are presently pending
before the FDA. For more information, please visit www.pmi.com/us/
and www.pmiscience.com.
Forward-Looking and Cautionary Statements
This press release contains projections of future results and
goals and other forward-looking statements, including statements
regarding expected operational performance; capital expenditures;
and business plans and strategies. Achievement of future results is
subject to risks, uncertainties and inaccurate assumptions. In the
event that risks or uncertainties materialize, or underlying
assumptions prove inaccurate, actual results could vary materially
from those contained in such forward-looking statements. Pursuant
to the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995, PMI is identifying important factors
that, individually or in the aggregate, could cause actual results
and outcomes to differ materially from those contained in any
forward-looking statements made by PMI.
PMI's business risks include: excise tax increases and
discriminatory tax structures; increasing marketing and regulatory
restrictions that could reduce our competitiveness, eliminate our
ability to communicate with adult consumers, or ban certain of our
products in certain markets or countries; health concerns relating
to the use of tobacco and other nicotine-containing products and
exposure to environmental tobacco smoke; litigation related to
tobacco and/or nicotine use and intellectual property; intense
competition; the effects of global and individual country economic,
regulatory and political developments, natural disasters and
conflicts; the impact and consequences of Russia's invasion of
Ukraine; changes in adult smoker behavior; the impact of natural
disasters and pandemics on PMI's business; lost revenues as a
result of counterfeiting, contraband and cross-border purchases;
governmental investigations; unfavorable currency exchange rates
and currency devaluations, and limitations on the ability to
repatriate funds; adverse changes in applicable corporate tax laws;
adverse changes in the cost, availability, and quality of tobacco
and other agricultural products and raw materials, as well as
components and materials for our electronic devices; and the
integrity of its information systems and effectiveness of its data
privacy policies. PMI's future profitability may also be adversely
affected should it be unsuccessful in its attempts to introduce,
commercialize, and grow smoke-free products or if regulation or
taxation do not differentiate between such products and cigarettes;
if it is unable to successfully introduce new products, promote
brand equity, enter new markets or improve its margins through
increased prices and productivity gains; if it is unable to expand
its brand portfolio internally or through acquisitions and the
development of strategic business relationships; if it is unable to
attract and retain the best global talent, including women or
diverse candidates; or if it is unable to successfully integrate
and realize the expected benefits from recent transactions and
acquisitions. Future results are also subject to the lower
predictability of our smoke-free products performance.
PMI is further subject to other risks detailed from time to time
in its publicly filed documents, including PMI's Annual Report on
Form 10-K for the fourth quarter and year ended December 31, 2023,
and the Quarterly Report on Form 10-Q for the first quarter ended
March 31, 2024. PMI cautions that the foregoing list of important
factors is not a complete discussion of all potential risks and
uncertainties. PMI does not undertake to update any forward-looking
statement that it may make from time to time, except in the normal
course of its public disclosure obligations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240716269122/en/
Philip Morris International PMI U.S. Communications Matt
Sheaff +1 (203) 524-9146 matthew.sheaff@pmi.com
Philip Morris (NYSE:PM)
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