Philip Morris To Invest $37M In Wilson Facility To Strengthen US Manufacturing

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. On Stocktwits, retail sentiment around the stock jumped to ‘bullish’ from ‘neutral’ territory the previous day amid ‘normal’ message volume levels.

The latest investment will allow the Wilson plant to add a new production line for TEREA, consumables used in the IQOS ILUMA heated tobacco system. Philip Morris filed applications with the FDA in October 2023 seeking market authorization for IQOS ILUMA, which it hopes to commercialize at scale once approved.

Even though IQOS still carries risks and includes nicotine, which is addictive, research shows that the product lowers exposure to dangerous and possibly harmful chemicals. This is because it heats the tobacco rather than burning it.

Philip Morris stock has gained over 33% year-to-date. 

Also See: Why Did FICO Stock Rocket 16% Today?

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