Mondelez International will reopen damaged plant in Ukraine
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Mondelez International (NASDAQ:MDLZ) plans to reopen a potato-chip plant on the outskirts of Kyiv, Ukraine next week.
The plant, which produces potato chips under the local brand Lyuks, has been closed since Russia's invasion of Ukraine in March.
The food company confirmed that it will continue to make repairs on the factory from the serious damage it sustained even after production is resumed at the site.
During its last earnings report, Mondelez (MDLZ) stated that the impact of the war in Ukraine war on global commodities including wheat and oil will reduce sales by $200M this year and cut into its annual profits by $0.03 per share.
Shares of Mondelez International (MDLZ) rose 0.83% premarket to $63.17 vs. the 52-week trading range of $57.63 to $69.47.
Read about MDLZ's deal to buy energy bar maker Clif Bar.