Congratulations to everyone in the medical and health community who have been fighting the tobacco companies and doing their best to bring an end to the horrible habit of cigarette smoking.
Phillip Morris USA just announced they are throwing in the towel - at least partially. They will close their 2.4 million square foot cigarette factory in North Carolina.
Cigarette companies are extremely profitable because they take an inexpensive product (raw tobacco) and sell it for a high price. However, the enormous pressure being brought against the tobacco companies by the health community, the legal community and government regulators have all taken their toll on the once powerful industry.
Mike Walden, a Nortn Carolina State University economist said, "One silver lining to this is that the tobacco industry has shrunk so much in North Carolina that this is not as severe a blow as it would have been 25 years ago."
The decision to close the massive Phillip Morris plant is part of a larger plan by the subsidiary of New York-based Altria Group Inc. to consolidate its facilities and move more cigarette production to Europe, where smoking isn't taking such a large hit as in the United States.
That's bad news for Europe, but great news for us!
Philip Morris USA brands include Marlboro, Virginia Slims, Merit, Parliament,
Alpine, Basic,
Cambridge,
Bristol,
Bucks, Chesterfield,
Collector's Choice,
Commander,
English Ovals,
Lark, L&M,
Players and
Saratoga.
1 comments:
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