- Nestle ADR NSRGY said it is closing its Buitoni pizza factory in France after a shrink in demand volumes.
- The company had temporarily suspended production at the Caudry site on March 2 after an E. coli outbreak that led to a recall.
- Nestle said it will launch a process to find a lasting recovery solution for the factory.
- Also Read: Nestle Plans To Review Banking Relationships Following Credit Suisse Downfall
- Nestlé France would undertake to present the opportunity for internal redeployment to the employees of Buitoni Pizza within other entities of the Nestlé group in France.
- The company will also support and identify opportunities for external redeployment.
- Also Read: Nestlé Plans To Hike Prices In 2023
- Price Action: NSRGY shares closed lower by 0.71% at $120.90 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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