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MONDELEZ INTERNATIONAL, INC.

(MDLZ)
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Mondelez International : Mondelēz International Announces New Contracts for U.S. BCTGM-Represented Employees

09/20/2021 | 09:05am EDT
  • BCTGM-represented employees across three bakeries and three sales distribution facilities ratify new contracts
  • Company looks forward to welcoming BCTGM-represented colleagues back to work and resuming normal operations

CHICAGO, Sept. 20, 2021 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (Nasdaq: MDLZ) announced the ratification of new contracts for BCTGM-represented employees at its Chicago, IL , Portland, OR, and Richmond, VA biscuit bakeries, as well as its Aurora, CO, Addison, IL and Norcross, GA sales distribution facilities.

The new contracts will help sustain the Company’s long-term growth and need for increased flexibility within the business to meet elevated demand. The agreement also increases wages and ensures competitive benefits for employees. The four-year contracts, which are retroactive to March 1, 2021, include a ratification bonus for each employee, hourly wage increases each year of the contract, increased company match to 401(k) contributions, and new flexible work schedules to unlock additional capacity. These terms represent a significant step forward for both the Company and its employees.

As the Company looks ahead and anticipates additional volume growth, it also will be well positioned to increase capacity through potential new investments in these plants.

“We are pleased that we’ve been able to reach agreements with the union that provide our union-represented colleagues with good wages and competitive benefits, while also positioning our U.S. bakeries and sales distribution facilities for future growth and success,” said Glen Walter, EVP and President, North America, Mondelēz International. “We have a bright future as a snacking leader here in the United States, and our employees at these bakeries and distribution sites play an important part in that future. We look forward to welcoming back our BCTGM-represented colleagues and returning to normal production and distribution to customers and consumers.”

The Company is working with the BCTGM on an orderly process and timeline to bring back BCTGM-represented workers into the bakeries and sales distribution facilities this week.

About Mondelēz International

Mondelēz International, Inc. (Nasdaq: MDLZ) empowers people to snack right in over 150 countries around the world. With 2020 net revenues of approximately $27 billion, MDLZ is leading the future of snacking with iconic global and local brands such as OREO, belVita and LU biscuits; Cadbury Dairy Milk, Milka and Toblerone chocolate; Sour Patch Kids candy and Trident gum. Mondelēz International is a proud member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index. Visit www.mondelezinternational.com or follow the company on Twitter at www.twitter.com/MDLZ.

Contacts:Laurie Guzzinati (Media) Shep Dunlap (Investors)
 +1 847 943 5678+1 847 943 5454
 news@mdlz.com ir@mdlz.com

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Source: Mondelez International, Inc.

2021 GlobeNewswire, Inc., source Press Releases

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Sales 2021 28 611 M - -
Net income 2021 3 991 M - -
Net Debt 2021 17 595 M - -
P/E ratio 2021 21,6x
Yield 2021 2,20%
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EV / Sales 2021 3,55x
EV / Sales 2022 3,41x
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Dirk van de Put Chairman & Chief Executive Officer
Luca Zaramella Chief Financial Officer & Executive Vice President
Robin S. Hargrove Executive VP-Research, Development & Quality
Javier Polit Chief Information Officer
Lois D. Juliber Independent Director
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