|
RICHMOND, Va. (AP) - Altria Group Inc., parent of the Philip Morris cigarette companies, will cut in half its U.S. manufacturing base, closing a North Carolina plant that employs 2,500 as it moves cigarette production for non-U.S. markets to Europe.
The manufacturing shift announced Tuesday comes amid a declining U.S. cigarette market and Wall Street speculation that Altria would soon move to split its domestic and international tobacco businesses into two companies.
Philip Morris USA will transfer all production from its Concord, N.C., plant in Cabarrus County to its Richmond production center, which will become its sole American manufacturing plant by 2011.
|