Wednesday, November 2, 2016

Recession: Erisco Foods shuts down Nigeria’s factory, relocates to China

Erisco Foods Limited has announced the shutdown of its tomato manufacturing business in Nigeria citing an unfavourable operating climate which has escalated operational costs in recent months, The Sun reports.

The President/CEO, Chief Eric Umeofia, said the company had concluded plans to relocate the manufacturing aspect of the business to China from where finished products would be imported and sold to consumers in Nigeria and other parts of the world.