30.1 C
New Delhi
Friday, November 8, 2024

Nissin Foods Holdings to boost US presence with $228M plant in South Carolina

Published:

Japanese instant noodle and ramen producer Nissin Foods Holdings has announced plans to invest $228 million in a new manufacturing plant in Greenville County, South Carolina.

The upcoming facility in South Carolina will mark the company’s third production site in the United States. Nissin Foods Holdings already operates plants in Gardena, California, and Lancaster, Pennsylvania.

Nissin stated that the investment will support the enhancement of its innovation pipeline, enabling it to better fulfill consumer demand.

Construction of the facility is scheduled to commence in December, with operations anticipated to begin in August 2025.

The 640,640 square foot facility will incorporate electric forklifts, solar panels, and EV charging points. According to the group, these initiatives are aimed at achieving carbon neutrality by 2050 and reducing carbon dioxide emissions by 30% by 2030.

The site will bring “hundreds of new jobs to the Greenville County community”, it said.

Nissin’s US portfolio includes the brands Cup Noodle, Hot & Spicy Fire Wok and Top Ramen.

The company’s other main markets in the Americas include Mexico and Brazil.

“For more than 65 years, our instant ramen products and brands have cultivated a loyal consumer base, which has fueled our relentless growth in the market,” said Michael Price, CEO and president of Nissin Foods’ US arm.

“With the south-eastern portion of the United States being a priority market for Nissin Foods, Greenville’s geographic accessibility, talented labour market, and competitive cost of living make it an ideal location for our new plant.”

Earlier this year, Nissin Foods set out plans to invest in its Lancaster plant. New manufacturing funding for its premium products at this facility grew by 15% as a result of the “unprecedented consumer demand” for its instant ramen goods.

Price added that having a third site “marks a critical turning point for Nissin Foods, solidifying our leadership position in the US market as we continue to grow the instant ramen category”.

In its latest financial statement covering 1 April to 30 September, Nissin Foods’ consolidated results included a 10.5% increase in revenue to Y350bn and 68.1% growth in core operating profit to Y48bn.

On a constant-currency basis, the group saw an 8.1% boost in revenue to Y342bn ($2.26bn) and a 63.4% increase in core operating profit to Y46bn.

SnackTeam
SnackTeamhttps://snackfax.com
SnackTeam is a specialised group of editorial staff motivated to improve the lives of individuals and society. The team intends to bring the most authentic, well-researched and dependable content for you and your loved ones every day.

Related articles

Recent articles

× Drop a, Hi?