Stocks To Watch: Mondelez International, Inc. (NASDAQ:MDLZ), FuelCell Energy, Inc. (NASDAQ:FCEL), Capstone Turbine Corporation (NASDAQ:CPST)
Dallas, Texas, 10/02/2014 (ustrademedia) – Mondelez International, Inc. (NASDAQ:MDLZ) said it plans to invest $90 million in developing a biscuit facility in the Kingdom of Bahrain to meet rising demand for brands such as Oreo, Ritz and TUC biscuits in the Middle East and Africa regions. The plant, which is expected to be the company’s most advanced production unit in the Middle East and Africa. It will commence commercial production by 2016. Initially, the new scalable facility will run four biscuit-manufacturing lines with a total capacity of about 90,000 tonnes per year. By the end of the initial phase, the facility will create about 300 direct jobs, according to the company. In addition, under its supply-chain reinvention plan, Mondelez aims to achieve $3 billion in gross-productivity savings, net savings worth $1.5 billion, and incremental cash of nearly $1 billion over the next three years.
FuelCell Energy, Inc. (NASDAQ:FCEL) has won a $3.2 million in funding from the U.S. Department of Energy (DOE) for the development of advanced material to improve the power density and performance of its next-generation Direct FuelCell products. The firm has roped in the University of Connecticut and the Illinois Institute of Technology to support aspects of the research for this three-year project. According to FuelCell, contracts offered to the University of Connecticut over the past several months have contributed about $1.5 million in research funding directly to the University.
Capstone Turbine Corporation (NASDAQ:CPST) has announced the sale of a Capstone C1000 microturbine to upgrade a plastics manufacturing plant in the Republic of Slovenia. The project was grabbed by the company’s exclusive distributor in Slovenia, Laibach d.o.o. The manufacturing facility, which was planning to undergo an expansion, decided to evaluate their consumption of power in a bid to save cost. The facility went under an analysis and selected one-megawatt Capstone microturbine operating in a combined heat and power application as their preferred solution. Post the implementation of the microturbine, the plastics manufacturer is able to save 20% in electrical and thermal costs.