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Oat milk producer Oatly to shut down its Singapore facility
The Straits Times
|December 19, 2024
Swedish oat milk producer Oatly is closing its manufacturing facility in Singapore, the company's first factory in Asia, after evaluating its supply chain network in the region.
Asia-Pacific will be served instead by its facilities in Europe, it said on Dec 18. The company also has a production facility in China and a separate Greater China segment.
Oatly said in its statement that the move "aligns with the company's asset-light supply-chain strategy". The closure is expected to improve Oatly's future cost structure and reduce the need for future capital expenditure, it noted.
In March 2021, The Business Times reported that Oatly and Singapore's food and beverage manufacturer Yeo Hiap Seng would jointly invest $30 million in equipment and facilities to produce the vegan milk producer's oat drink in Singapore.
This story is from the December 19, 2024 edition of The Straits Times.
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