(Reuters) - The parent company of Phillip Morris tobacco cited declining U.S. cigarette volume for moving production to Europe. The Cabarrus facility employs about 2,500 people.
Altria said it plans to consolidate U.S. cigarette manufacturing in Richmond, Va., and that Philip Morris International will shift the sourcing of about 57 billion cigarettes from Cabarrus to Europe by the third quarter of 2008.
Read more at Reuters.com Mergers News
Altria said it plans to consolidate U.S. cigarette manufacturing in Richmond, Va., and that Philip Morris International will shift the sourcing of about 57 billion cigarettes from Cabarrus to Europe by the third quarter of 2008.
Read more at Reuters.com Mergers News
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