Amazon Stock Dips as Reports Link Company to Potential $50B OpenAI Investment 
Saks Global to End Saks on Amazon Partnership Amid Bankruptcy Restructuring 
OpenAI Reportedly Eyes Late-2026 IPO Amid Rising Competition and Massive Funding Needs 
Microsoft AI Spending Surge Sparks Investor Jitters Despite Solid Azure Growth 
Bob Iger Plans Early Exit as Disney Board Prepares CEO Succession Vote 
U.S. Stock Futures Edge Lower as Tech Earnings and Fed Decision Shape Market Sentiment 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
Dollar Struggles as Policy Uncertainty Weighs on Markets Despite Official Support 
Tesla Q4 Earnings Beat Expectations as Company Accelerates Shift Toward AI and Robotics 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
Oil Prices Hit Four-Month High as Geopolitical Risks and Supply Disruptions Intensify 
Trump to Announce New Federal Reserve Chair Pick as Powell Replacement Looms 
U.S. and El Salvador Sign Landmark Critical Minerals Agreement to Boost Investment and Trade 
UK Vehicle Production Falls Sharply in 2025 Amid Cyberattack, Tariffs, and Industry Restructuring 
Starmer’s China Visit Signals New Era in UK–China Economic Relations 
U.S. Dollar Slides for Second Week as Tariff Threats and Iran Tensions Shake Markets 
China Factory Activity Slips in January as Weak Demand Weighs on Growth Outlook 
Nestle is shutting down another one of its overseas plants, and this time, its foodservice processing facility in Ontario. It was reported that the Trenton plant will officially cease operations in mid-2022.
Reason for the shutdown
As per Grain News, Nestle decided to close its Ontario plant due to the highly competitive market. With the shutdown, the company will move its work to the U.S.
The facility is said to be a location where the company produces frozen and dry blend products that are being supplied to restaurants and the hospitality sector. It was added that a large part of the production in this plant is being exported to the United States.
“The foodservice industry is highly competitive and over the years volumes in the U.S. have continually outpaced Canadian volumes, resulting in over 80 percent of Trenton’s annual production being shipped to the U.S.,” Nestle stated in a press release. “The Trenton factory is part of a North American manufacturing network and the U.S. foodservice factories have the capacity to absorb the production.”
Nestle made the announcement about the closure of the factory on Thursday, July 15. As the company prepares to shut, work in this location will be reduced, and the lessening of workload will continue until next year.
How Nestle is planning to close the plant
Moreover, the Swiss firm will be closing the facility in stages so everything will go smoothly. For the first step, the products will be transferred to Nestle plants in the U.S., and this will begin in late 2021. From there, other things will follow until the full shutdown of the Trenton plant in next year’s fall.
For the employees that will be affected by the shutdown, Nestle knows that it will be hard for them, but they will be offering severance packages and outplacement support. The company will also give them a chance to apply for other job positions in other Nestlé facilities. It was said that the offers to the workers will be announced in the coming months.
Meanwhile, Nestle stressed that its decision to close the Trenton plant is in no way related to the performance of the company’s dedicated employees. In fact, Nestle said that everyone had worked tirelessly just to give the highest quality products to customers, so it all is really about the highly competitive market.
