Nestlé plans to close an infant formula factory due to China's plunging birth rate

Fri, 10/20/2023 - 07:32

Nestle CEO Ulf Mark Schneider speaks during the Nestle shareholders meeting in Lausanne, Switzerland, April 6, 2017. REUTERS/Denis Balibouse — Nestle CEO Schneider speaks during a Nestle shareholders meeting in Lausanne
Thomson Reuters

Nestlé is set to close an infant formula factory in Ireland due to falling Chinese demand.
The food giant cited China's rapidly decreasing birth rate as a key part of the reason.
China's fertility rate dropped to a historic low last year, according to experts.

Nestlé is set to shut down an infant formula factory in Ireland in part because of the dramatic decline in China's birth rate, according to a statement from the company.