Yeo Hiap Seng (SGX:Y03) was informed by partner Oatly of its decision to close its manufacturing facility in Singapore, according to a filing with the Singapore Exchange on Thursday.
Oatly and the company had entered into a partnership in 2019 under a co-packing agreement.
The two parties have now entered into an exit agreement to dissolve their tie-up, which produces Oatly beverages in the city-state, including compensation amounts due to the group.
However, the company will continue to support Oatly's distribution operations in Singapore and Malaysia.
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