Philip Morris To Invest $37M In Wilson Facility To Strengthen US Manufacturing
Synopsis
The investment will fund the development of new production capabilities at the Wilson site, which currently produces HEETS for the IQOS 3.0 heated tobacco device.
Philip Morris International Inc. (PMI) announced on Thursday that its U.S. division is investing $37 million in its Wilson, North Carolina, facility to expand its presence in the American smoke-free products market.
The investment will fund new production capabilities at the Wilson site, which currently produces HEETS for the IQOS 3.0 heated tobacco device, the only such product authorized by the U.S. Food and Drug Administration as a Modified Risk Tobacco Product (MRTP) with reduced exposure claims.
The company stated that the Wilson expansion builds on its U.S. investments in America's heartland, which already include hundreds of millions of dollars invested in U.S. manufacturing and innovation. This includes the $232 million expansion announced in 2024 in Owensboro, Kentucky, and a $600 million investment to construct a state-of-the-art manufacturing facility in Aurora, Colorado.
Philip Morris International stock inched 0.2% higher on Thursday morning.
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