Pros
On the production side, a team leader can become a Supervisor and on very rare occasions a Supervisor can become a Production Manager. That's about the only opportunity there is. The pay is competitive if not one of the higher paying companies of the industry.
Cons
On the production side, there might be some opportunity for advancement, but be prepared to work like a dog for years to earn it, and it won't stop after that. For everyone else, once you learn a few specialized skills, the company will lean on you for those skills as long as your willing to stay there. For most people, your job will never change unless there is an extreme circumstance or you stop performing well, then they might promote you (this has really happened some tines). Management is complacent and unmotivated unless their arms are twisted. No proactivity, only reactivity. You will get a glimmer of hope from time to time when management does get involved and diligent in the effort and some improvement is taking place. But for most areas, it's one step forward, 2 steps back.