Swiss group said it will cease operations at Askeaton with the likely loss of more than 500 jobs
Food giant Nestlé has reported “low single-digit growth” in its infant nutrition product sales in China in the first nine months of the year, a day after citing falling demand for imported infant formula in the world’s second-largest economy for the closure of its Wyeth Nutrition plant in Askeaton, Co Limerick.
In third quarter results published on Thursday, Nestlé said its infant nutrition division “posted high single-digit growth, with broad-based contributions across brands and geographies”. In China specifically, the product division saw “saw low single-digit growth” in the first nine months of the year.
Nestlé said infant formula production at Askeaton, which first opened back in 1974, would be transferred to two of its other factories, one in Suzhou, in China and the other in Konolfingen, Switzerland. Overall, Nestlé said sales growth slowed down as inflation eased and it put through smaller price increases.
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