BREAKING NEWS:‘We Are Relocating To China, We Are Never Coming Back’- Erisco Foods Shuts Down Factory

Due to unfavourable business environment in the country, tomato manufacturing business, Erisco Foods Limited has announced the shut down of its industries.
At a press conference in Lagos, the President/CEO of Erisco Foods Limited, Chief Eric Umeofia said plans have been concluded by the company 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.

He added that the decision to shut down the Nigerian manufacturing plant was taken after the expiration of a 30-day ultimatum given by the management of the company to the Federal Government to compel the CBN to make available enough foreign exchange (forex) to assist in the imports of raw materials as well as the requisite equipment needed to keep the manufacturing plants running and also profitable.




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