Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Nestle to close baby formula factory in Ireland in response to falling Chinese birthrates

by October 19, 2023
October 19, 2023
Nestle to close baby formula factory in Ireland in response to falling Chinese birthrates

Nestle will close down a baby formula factory in Ireland due to a falling birth rate in China, placing 560 jobs at risk.

The factory, in Askeaton County Limerick, makes products nearly entirely for the Chinese market and is set to close in 2026.

It is understood that the company is looking to transfer the production from Askeaton to two existing factories in China and Switzerland, the BBC reported.

The Irish minister for enterprise, trade and employment, Simon Coveney, described the move as “hugely disappointing”.

“It is hugely disappointing news as this facility has provided fantastic employment in Limerick and made a huge contribution to Ireland’s economy,” he said.

Last year, China reported its lowest birth rate on record of just 6.77 births per 1,000 people.

The end to the country’s one child policy in 2016, which ran for most of the 21st Century, has not led to an increase in births.

News of the Nestle closure comes as the Kit Kat maker revealed that sales volumes fell in the first nine months of the year as customers were put off by inflation-led price hikes.

The chocolate-to-coffee provider said it increased prices by 8.4 per cent due to rising inflation, leading sales to decrease by 0.4 per cent.

“The management attributes this volume decline to one or two isolated incidents,” Chris Beckett, head of equity research at Quilter Cheviot, said.

“The vitamins and nutrition segment experienced a dip, and there were challenges in bottling sufficient quantities of Perrier. Excluding these factors, there would have been a modest increase in volume. Nonetheless, its sales demonstrate resilience against these price hikes.”

Read more:
Nestle to close baby formula factory in Ireland in response to falling Chinese birthrates

0
FacebookTwitterGoogle +Pinterest
previous post
70% of mid-sized businesses on track to incorporate sustainability into business models
next post
Tesla Stock Has High Expectations: A Strong Pop or Plunge

You may also like

Made in Britain teams up with Carrington to...

March 10, 2025

Half of UK company directors struck off linked...

July 17, 2023

London Mayor Confirms Off-Peak Fridays Trial to Commence...

March 1, 2024

UK food prices as big a concern for...

August 29, 2023

Education Secretary Challenges Big Firms’ Plea Over Apprentice...

March 19, 2024

Small business leaders demonstrate their desire to help...

October 23, 2023

Protecting Workplace Employees: Health and Safety

December 1, 2022

Adam Neumann Makes £395m Bid to Regain Control...

March 26, 2024

Thank goodness for Mark Carney: The quiet genius...

March 10, 2025

Elon Musk announces he has found new Twitter...

May 12, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved