Nestle sees no direct implications on business from Iran sanctions

FILE PHOTO: A Nestle logo is pictured on a coffee factory in Orbe, Switzerland May 31, 2018. REUTERS/Denis Balibouse/File Photo

ZURICH (Reuters) – Nestle (NESN.S) sees no direct fallout from renewed U.S. sanctions on Iran, the world’s biggest food company said on Tuesday.

FILE PHOTO: A Nestle logo is pictured on a coffee factory in Orbe, Switzerland May 31, 2018. REUTERS/Denis Balibouse/File Photo

“We continue to closely follow political developments regarding sanctions against Iran. There are no direct implications for our business at this stage,” it said in response to a query.

Nestle Iran has its headquarters in Tehran and two factories: one in Qazvin that produces infant cereals and infant formula, and a bottled water factory in Polour. The company has 818 employees and imports a limited range of Nestle products from abroad, it said.

“By providing basic food products to Iranian consumers, we will continue to fulfill the needs of the population,” it added.

Source: Read Full Article