On Friday, Shares of Mondelez International Inc (NASDAQ:MDLZ), lost -1.55% to $42.57.
Mondelez International Inc, opened a new $30 million state-of-the-art chocolate production line here to capitalize on growing demand in its European confectionery business. The investment is part of the company’s ongoing journey to create a global best-in-class integrated supply chain by transforming its manufacturing assets and processes to reduce costs and improve productivity.
“We strongly believe in the growth opportunities in Europe’s snacking market,” said Jurgen Leisse President Central Europe, Mondelēz International. “As Poland’s market leader in biscuits and chocolate, we know that maintaining our competitive advantage requires best-in-class manufacturing technology, such as the ‘Line of the Future’ introduced recently.”
At the opening event, Leisse was joined by the U.S. Consul General Walter Braunohler, who said, “Poland’s best business asset is its motivated, capable and intelligent workforce. This is the main reason that more and more U.S. companies are establishing operations here in Poland, and the reason that companies that are already present continue to expand and hire more Polish workers. We’re very happy to see these increasing business linkages, which benefit both our countries.”
“This Line of the Future is a big step forward, not only for Skarbimierz plant but also for the whole European snacking market,” said Roman Sitko, Manufacturing Director. “Our passionate team is excited and proud to enter a new chapter with this innovative solution. This will enable us to produce some of Europe’s best-loved brands and offer innovative snacking solutions.”
Skarbimierz’s new Line of the Future improvements capacity, operates more efficiently and offers greater flexibility through its modular design. This new line is a first within the company’s manufacturing network in Poland and only the second in Central Europe. The investment will support the growth aspirations of the company’s chocolate and biscuit categories by enabling production of innovative snacking product formats for favorite brands such as Milka, Oreo, Cadbury and Terry’s Chocolate Orange, in addition to the beloved local Polish brand 3Bit.
Mondelez International, Inc., through its auxiliaries, manufactures and markets snack food and beverage products worldwide. The company offers biscuits, counting cookies, crackers, and salted snacks; chocolates, and gums and candies; powdered beverages and coffee; and cheese and grocery products.
Shares of CONSOL Energy Inc (NYSE:CNX), declined -5.83% to $13.40, during its last trading session, as oil prices fall alongside equities on U.S. employment data.
Oil markets have been mirroring equity markets in recent weeks, with both weighed down recently by the latest U.S. employment data, The Wall Street Journal reports.
Jobs growth accelerated at a slower pace than predictable last month, climbing by 173,000 in August contrast to estimates of 220,000 by economists surveyed by the Journal.
The report also showed falling unemployment and rising wages, and the positive data fueled speculation of a September interest rate hike by the Fed, according to Reuters. Higher rates would weigh on oil prices by strengthening the dollar and driving up oil’s relative cost for other currencies.
WTI crude is down 1.52% to $46.04 per barrel, while Brent crude is decreasing 1.78% to $49.78 per barrel this afternoon, according to the CNBC.com index.
CONSOL Energy Inc., together with its auxiliaries, operates as an integrated energy company in the United States and internationally. The company operates through two divisions, Exploration and Production (E&P), and Coal.
Finally, PPL Corp (NYSE:PPL), ended its last trade with -1.95% loss, and closed at $29.67.
PPL Corp, PPL Electric Utilities and the advocates and interest groups who intervened in the company’s rate proceeding have reached a settlement that would improvement delivery rates and assist fund additional reliability improvements.
“This is a fair settlement among all the parties in the case,” said Greg Dudkin, president of PPL Electric Utilities. “We appreciate the constructive dialogue that enabled us to reach this agreement.”
The company will use the raised funding to continue its work to prevent power outages for the 3 million people who depend on PPL for safe and reliable electric service.
If approved, the settlement would mean a residential customer using 1,000 kilowatt-hours per month who does not shop for electricity supply would see an improvement of about $7.55 a month. Their bill would improvement from the current $147.31 per month to $154.86.
The majority of the company’s residential customers – about 65 percent of them – uses less electricity and would have a smaller improvement in their monthly bills.
There would be no improvement in the fixed-charge portion of residential customer bills. PPL Electric Utilities would receive an overall improvement in annual revenues of $124 million.
“We are in the midst of game-changing improvements in the quality of service for our customers,” said Dudkin. The company plans to spend more than $5 billion during the next five years to renew, strengthen and modernize its electricity delivery network.
PPL Corporation, a utility company, delivers electricity and natural gas in the United States and the United Kingdom. It serves 321,000 natural gas and 397,000 electric customers in Louisville and 16 surrounding counties; and 543,000 customers in 77 Kentucky counties and 5 counties in Virginia.
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