Mondelez International to Invest $65 Million in Global Research & Development Hubs
DEERFIELD, Ill., Sept. 14, 2016 (GLOBE NEWSWIRE) -- Mondelēz International today confirmed a $65 million investment to build a global Research, Development & Quality (RDQ) network of the future. The investment will enable the company to better recruit, retain and develop talent across a range of science and technical disciplines while also creating a stronger presence in both emerging and developed markets. When complete, the redesigned network will consist of a combination of new and existing technical centers that will be more flexible and agile in responding to the company's growth and innovation needs.
Over the next two years, the company will focus its RDQ network at nine advantaged technical centers, concentrating people and resources into better equipped hubs:
- Mexico City, Mexico
- East Hanover, N.J., United States
- Bournville, United Kingdom
- Reading, United Kingdom
- Wroclaw, Poland
- Thane, India
- Suzhou, China
- Jurong, Singapore
- Curitiba, Brazil
"With these advantaged technical centers, we're focusing our investment in research, equipment and capabilities to drive innovation to support our growth strategy and innovation, margin and quality platforms," said Rob Hargrove, Executive Vice President, RDQ. "These hubs will enable improved efficiency, effectiveness and accelerated project delivery, while the increased scale across key markets will provide rapid access to changing consumer needs and trends."
Three of the centers -- East Hanover, Bournville and Reading -- are already in full operation. The company will break ground on the Singapore facility in November 2016 and the Thane facility in December 2016 with the new Wroclaw building opening in 2017. The remainder of the redesigned network will open through 2018.
About Mondelēz International
Mondelēz International, Inc. (NASDAQ:MDLZ) is a global snacking powerhouse, with 2015 net revenues of approximately $30 billion. Creating delicious moments of joy in 165 countries, Mondelēz International is a world leader in biscuits, chocolate, gum, candy and powdered beverages, with billion-dollar brands such as Oreo, LU and Nabisco biscuits; Cadbury, Cadbury Dairy Milk and Milka chocolate; 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 us on Twitter at www.twitter.com/MDLZ.
Contacts: Michael Mitchell (Media) +1-847-943-5678 news@mdlz.com Shep Dunlap (Investors) +1-847-943-5454 ir@mdlz.com