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Bloomberg
Royal Philips NV said it will shutter a baby products factory in the UK, after concerns over the nation’s exit from the European Union intensified this week.
The Dutch health-tech company will move much of its Glemsford, Suffolk-based production plant to Drachten in the Netherlands, as part of its efforts to cut plants from roughly 50 to about 30 globally, Philips said in a statement. The remaining part will be moved to Asia.
Philips had warned multiple times that anything short of a seamless single-market customs union between the UK and the European Union could result in the shutdown of the site making products such as Avent brand bottled and pacifiers. Currency swings and increasing uncertainty about Brexit had started to hurt profitability at Glemsford, Chief Executive Officer Frans van Houten has said.