$XXII: Pioneering the Future of Tobacco In a strategic move earlier this year, 22nd Century Group, Inc. (NASDAQ: $XXII) entered into an agreement with a key customer for its export conventional cigarette products business. This deal is set to boost the company's contract manufacturing volumes by an impressive 20%, signaling a significant expansion in its operational capacity.
Production under this new agreement has begun to steadily ramp up, positioning 22nd Century for increased output throughout the remainder of 2024. As the company's manufacturing capabilities continue to grow, 2025 is expected to see even more substantial increases in production volumes, supporting 22nd Century's broader goals in the nicotine industry.
The agreement aligns with 22nd Century’s strategic focus on diversifying its product offerings and penetrating international markets, particularly in the export sector. This initiative comes as part of a broader effort to strengthen the company’s revenue streams while expanding its market reach.
As the partnership matures and production continues to rise, 22nd Century Group’s contract manufacturing business is poised for robust growth, potentially making it a key driver of the company's long-term profitability and positioning it as a significant player in the global tobacco market.