Nissin, the instant noodle maker, has announced its plans to invest 180 million CYN ($26.19 million) to build a new production plant in Zhuhai, southern China, for the manufacturing of packaging materials.
The company said the investment would facilitate its business growth and development in Hong Kong and the rest of China. The plant is due for completion by 2021.
Commenting on the move Nissin executive director, chairman of the Board and CEO Kiyotaka Ando said: “Since becoming listed in 2017, we have been actively and at the same time cautiously looking for opportunities to invest in appropriate facilities and partnership to enhance production efficiency and support our diversified product portfolio. The acquisition and the construction of the new plant will enable the Group to better mitigate production costs and reap greater synergies from its production facilities operating in concert”.