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Is Altria Readying For The Next Spinoff?  

Tobacco firm Altria Group lit up Wall Street on Tuesday when the company, which makes Marlboro cigarettes, among other brands, told investors that it's shuttering a manufacturing plant in Cabarrus, N.C., as it moves U.S.-based cigarette production for non-U.S. markets to Europe. Stock watchers think the strategic move could signal that the company is readying itself to spin off its Philip Morris International unit.

Altria said it expects to be able to offer positions in Richmond, Va., to most of the 2,500 North Carolina-based hourly employees and many salaried employees. Those workers displaced by the changes, the company said, will be eligible for three to 20 months' severance pay and benefits.

But Wall Street cares about profits, not people, so what's the impact of the move on Altria's bottom line? The company said it expects cost savings

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