Tingyi (Cayman Islands) Holding Corp.’s (00322.HK) 1.8 billion yuan (US$294.85 million) instant noodle plant is up and running in Hangzhou, Apple Daily Taiwan reported Tuesday. The production lines can make up to 5.8 billion packs of instant noodles annually, 1 billion packs more than the previous record held by its Tianjin factory. The new Hangzhou plant is responsible for supplying Tingyi’s noodle products to Anhui, Jiangsu, Zhejiang and Shanghai. Taiwan-based Wei-Chuan Foods Corp.’s new 800 million yuan chilled food and beverage production facility will also become operational this year. The group is expecting income from the chilled food and beverage business to reach 1.5 billion yuan in 2013, and to grow another 20 percent in 2014, the report said.
– Contact HKEJ at [email protected]