Chocolate factory Mon'delez Rus in Chudovo will be sold

The production of confectionery will be stopped no later than at the end of the third quarter 2017. The financial details of the transaction aren't disclosed. “The decision to sell the factory in Chudovo was made in connection with our intention to increase the investments in production sites in Russia. Today more than 95% of the products which we sell in the Russian market are made at our Russian factories, and we confirm our commitment to localization. We will continue to invest into our plants in Veliky Novgorod, Pokrov, Sobinka and Novosibirsk,” Hossam Ashur, the CEO of Mon'delez Rus LLC comments. The company emphasizes that Mon'delez Rus LLC has the long-term development strategy in Russia which remains one of the priority markets for the Mondelez International group, and continues investments in this country. The factory in Chudovo started in 1997. Its production capacity was more than 40,000 tonnes of chocolate products a year. It specialized on wafer cakes, Picnic bars, Alpen Gold Composition candies (source: candynet.ru).