RUSSIA: Mondelez to build chocolate, biscuits plant
Mondelez said Russia is "priority market" for company
Mondelez International is to build a chocolate and biscuits factory in the Russian city of Novosibirsk.
The snacks giant said the plant would manufacture brands including Milka chocolate and Jubilee cookies. The facility will have a capacity of 50,000 tonnes a year. Construction will begin this summer and will be completed by the end of 2015, Mondelez said. It added the US$110m project would create about 180 jobs.
"Maintaining our long-term growth in this priority market for the company requires a significant increase in production capacity of key brands," Romeo Lacerda, CEO of Mondelez's Russian arm, said.
Mondelez has three other plants in Russia, in the regions of Vladimir, Leningrad and Novgorod.
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Mondelez International was created in October 2012 as Kraft Foods Inc has restructured its operations into two independently listed entities. Mondelez is home to the international snack food portfolio...
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