Danone, Nestle suspend or close factories in China
Global food conglomerates Danone and Nestle said on Monday they will suspend or close factories in China, moves analysts said highlighted the tough competition from domestic players.
Indonesian daily Kontan earlier reported Nestle planned to shift factories in Malaysia and the Philippines to Indonesia to be closer to raw material sources, and cited Nestle's Indonesia spokesman Brata T. Hardjosubroto as saying details of the relocation would be announced in November.