Benzinga | Sep 20, 2021 09:10AM EDT

Mondelez Wins New Contracts For The Bakery, Confectionary, Tobacco Workers And Grain Millers-Represented Employees At 6 Facilities

* 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) -- Mondelz 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, Mondelz 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.