Opening a new US$15m instant noodle plant last week, Taiwan’s Uni-President Enterprises Group said that it aims to control 9% of the Philippines’ instant noodle market within a year.
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The plant was built with joint investment with the Philippines’ RFM Food Group, which has already embarked on cooperative ventures with multinational giants such as Unilever and Hershey. Uni-President controls 51% of the joint venture.
Executives of Uni-President Enterprises told the Taiwan Economic News that sales of instant noodles amount to about 1.5 billion packs a year in the Philippines.
There will be two production lines at the plant for daily output of 600,000 packs at the initial stage. Philippine president and other senior officials will attend the ribbon cutting ceremony at the plant tomorrow.
They added that following the instant noodle project, cooperation with RFM is likely to extend to other foodstuffs, including bread, beverages, and ice creams.
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