Nestlé to Close Irish Baby Formula Plant as China Birth Rate Drops
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Nestlé to close baby formula factory in Ireland due to falling birth rate in China, leading to hundreds of job cuts.
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China's birth rate dropped to lowest level since 1949, causing sharp decline in demand for infant formula.
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All production from Nestlé's Askeaton factory exported to Greater China and Asia.
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Nestlé says demand growing in China for locally-produced formula after melamine crisis eroded confidence.
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Factory production to be moved to Nestlé sites in Switzerland and China.