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BUSINESS A25
Friday 11 September 2015

Mondelez plans to concentrate more on healthy snacks

NEW YORK (AP) — Mon- ficer Mark Clouse. mation for its products as least 3 percent. fresher or more natural.
delez, the company be- Major food companies, it develops new goods to The company, which also Mondelez said Thursday
hind the Oreo and Cad- such as Kellogg, General meet consumer demand makes products like Ritz that it would reinvest some
bury brands, says that it Mills and others, are shift- for healthier items. The ex- crackers and Trident gum, of its cost savings into addi-
plans to have 50 percent of ing from foods that are per- ecutive said that the com- has been slashing costs to tional advertising and con-
its portfolio contain healthy ceived by some consumers pany expects to focus 70 offset weak growth. Cost- sumer support.
snacks within the next five as too processed to options percent of new product cutting has become com- Mondelez split from Kraft
years. that are considered health- development efforts on mon for major packaged Foods in late 2012, a move
Healthy snacks currently ier. healthy goods over the food companies, which that was intended to allow
comprise more than a third Clouse said Thursday that next five years. are up against volatile eco- each company to work
of its total revenue, accord- Mondelez International Inc. Mondelez maintained its nomic conditions overseas with a more focused port-
ing to Executive Vice Presi- is looking to simplify ingre- forecast for 2015 organic and shifting tastes that folio of brands.q
dent and Chief Growth Of- dients and nutritional infor- net revenue to climb at favor foods marketed as

China auto sales shrink again in August for third month

A worker checks on the newly imported Renault vehicles parked at a seaport in Qingdao in east es. to 762,000 vehicles.
China’s Shandong province. China’s auto sales declined in August for a third month but some The deceleration is espe- Despite the slowdown,
brands reported gains following a market downturn that shook the global industry. cially wrenching for global automakers are pushing
brands that are looking to ahead with multibillion-
(Chinatopix via AP) China, the biggest global dollar plans to expand pro-
auto market by number of duction and create mod-
JOE McDONALD minivans fell 3.4 percent clines of 6.6 percent in July vehicles sold, to drive future els to suit Chinese tastes,
AP Business Writer from a year earlier to 1.4 and 3.4 percent in June. revenue. With the Chinese adding to competition in a
BEIJING (AP) — China’s million vehicles, accord- China’s auto market has economy cooling, buyers crowded market.
auto sales declined in Au- ing to an industry group, been cooling since growth are putting off purchases, In July, GM announced a
gust for a third month but the China Association of peaked at 45 percent in said analyst Xu Qian of Alix- $5 billion plan to create ve-
some brands reported Automobile Manufactur- 2009 but this year’s plunge Partners, a research firm. hicles with its main Chinese
gains following a market ers. That dragged down prompted analysts to cut He said automakers will be partner to be sold in China,
downturn that shook the the growth rate for the first growth forecasts and Gen- lucky if the market achieves Brazil, India and Mexico.
global industry. eight months of the year to eral Motors Co. and Volk- single-digit growth this year. That came after Ford Motor
Sales of sedans, SUVs and 2.6 percent following de- swagen AG to reduce pric- “If the overall economy Co. and a local partner in
keeps struggling, we might April committed to spend
not even see growth but a $1.1 billion on an additional
decline,” said Xu. factory in China.
Sales also have been dent- Companies were prepar-
ed by measures imposed ing for slower growth, but
by Beijing, Shanghai and the squeeze hit faster than
other major cities to curb many expected.
smog and congestion by In a report last week, re-
limiting new vehicle regis- search firm Bernstein said
trations. China’s downturn is so se-
Total vehicle sales, includ- vere that German auto-
ing trucks and buses, de- makers, heavily reliant on
clined 3 percent from a this market, are likely to is-
year earlier to 1.7 million, sue profit warnings in com-
according to CAAM. ing weeks.
Sales of SUVs, a bright spot Analysts had expected
for the industry, soared 45.6 growth of 7 to 8 percent this
percent to 453,000, the year in Chinese auto sales
group said. Meanwhile, but after June’s contrac-
sales of more traditional se- tion, some cut their outlook
dans slumped 16.4 percent to as little as 1.7 percent.q

2 states’ regulators oppose Patriot Coal reorganization plan

PAM RAMSEY Department of Natural Re- incur penalties, are not pro- remove iron, aluminum, jected to the plan’s release
Associated Press sources said the plan would vided for in the Plan,” the manganese and other provisions. The Ohio agen-
CHARLESTON, W.Va. (AP) leave Patriot Coal with little motion says. Another mo- pollutants. West Virginia cy said releasing current
— Ohio and Pennsylvania to no ability to address envi- tion filed by the Pennsylva- regulators have voiced and former officers, direc-
regulators say Patriot Coal’s ronmental problems and to nia Department of Environ- similar concerns about the tors, employees and others
reorganization plan does perform required land rec- mental Protection said the reorganization plan. In an connected with the com-
not adequately address lamation following opera- reorganization plan does August filing, the West Vir- pany from any claims vio-
the company’s obligations tions at the Sunnyhill Mine not provide for how Patriot ginia Department of Envi- lates bankruptcy law. The
to clean up mine pollution. Complex. “New violations Coal affiliate Eastern As- ronmental Protection said Pennsylvania department
Both states filed separate will occur, but the Debtors sociated Coal will meet its the plan would leave the said the provisions are so
motions opposing the will not have the resources environmental obligations company with no assets to broad that they could be
plan’s approval this week or equipment to repair any for the Colver and Delmont cover hundreds of millions read to release the Virginia
in U.S. Bankruptcy Court in problems that may oc- mines, which no longer op- of dollars in mine pollution Conservation Legacy Fund
Richmond, Virginia. cur under the Ohio Permit. erate. Drainage from both cleanup. Ohio and Penn- and any liquidating trustees
A motion filed by the Ohio These violations, which can mines must be treated to sylvania regulators also ob- from their obligations.q