Mondelez International Inc
The company announced that its facility in Trostyanets has been fully rebuilt, having partially reopened last year to manufacture chocolates.
Mondelez stated the Oreo cookies and other chocolates produced at the Ukrainian plant are not being exported to neighboring Russia, reported Reuters.
Despite facing boycotts and calls to cease operations from employees, activists and investors, Mondelez continues to operate three factories in Russia, selling its cookies and snacks there.
The company aims to make its Russian business "stand-alone" with a self-sufficient supply chain by the end of 2023. New leadership has been appointed for Europe, including Russia, earlier this year.
While the Trostyanets plant was under repair, Mondelez reportedly imported Oreos into Ukraine.
The products from the Trostyanets factory are being exported to Eurasian countries such as Georgia and Kazakhstan, in addition to being sold domestically in Ukraine.
Previously, plants in Russia supplied these countries. Mondelez has emphasized its ongoing investments in supporting and rebuilding Ukraine.
Mondelez reported that there have been no exports from Russia to Europe. Last year, Oreo sales revenue reached approximately $4 billion, according to CEO Dirk Van de Put.
Other major brands under Mondelez include Milka and Cadbury chocolates. Recently, over 30% of Mondelez's shareholders supported a resolution calling for an independent assessment of the risks of continuing operations in Russia.
Norges Bank, the 11th-largest shareholder of Mondelez according to LSEG's Eikon, backed the proposal. The fund indicated that it would support well-founded shareholder proposals if a company does not meet its needs as a financial investor.
MDLZ Price Action: Mondelez shares are up 0.12% at $67.95 Friday at publication.