Jun. 28, 2012 (China Knowledge) – Master Kong, the largest brand of instant noodles in China owned by Taiwan-based Tingyi (Cayman Islands) Holding Corp<0322
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Covering an area of 460 mu, the company will build Asia's largest instant noodle production line and a carton production plant in the integrated industrial park.
After the construction, the park will generate an annual output value of RMB 3.5 billion, and realized RMB 290 million in tax contribution, said Huang Ziqiang, general manager of Xi'an Tingyi food Co.
China has exceeded Japan to become the world's largest instant noodle market, last year the country produced 48.38 billion packets of instant noodles with sales revenue of RMB 55.78 billion.
In 2011, Master Kong saw the sales from its instant noodle business increased 22.54% YoY to US$3.59 billion, and its net profit from the business reached US$306 million, accounted for 60% of the company's operating revenue.