NISSIN FOODS ANNOUNCES $228 MILLION EXPANSION PLANS IN THE U.S.

Leader of instant ramen marks 65 years with third manufacturing facility, bringing hundreds of new jobs to South Carolina

GARDENA, Calif., Nov. 9, 2023 /PRNewswire/ -- Nissin Foods USA, the creator of such iconic brands as Top Ramen® and Cup Noodles®, announced a major investment of $228 million to develop a third U.S. manufacturing facility in Greenville County, South Carolina. This investment will significantly increase the company's manufacturing capabilities and advance its innovation pipeline to further meet consumer demand for its products.

"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, Nissin Foods USA. "With the southeastern portion of the United States being a priority market for Nissin Foods, Greenville's geographic accessibility, talented labor market, and competitive cost of living makes it an ideal location for our new plant."

With manufacturing plants in Gardena, California and Lancaster, Pennsylvania, the new facility will produce a range of Nissin Foods' products across its brand portfolio, including Top Ramen, Cup Noodles, Hot & Spicy FIRE WOK and more, with capacity for further expansion as needed. The 640,640 square foot facility will also feature solar panels, EV charging stations and electric forklifts, furthering the Nissin Foods' commitment to minimize CO2 emissions by 30% by 2030 and reach carbon neutrality by 2050 as part of the company's long term environmental strategy.

"Opening a third facility marks a critical turning point for Nissin Foods, solidifying our leadership position in the U.S. market as we continue to grow the instant ramen category," said Price.

The company recently reported four consecutive quarters of high double-digit growth driven by its premium product innovations, with a 27% increase in sales at the end of its first quarter in 2023 compared to the same time in 2022. To better support demand for its products, the Greenville facility is part of the company's larger business plan following a recent multi-million dollar investment in its Lancaster plant, increasing overall capacity.

Nissin Foods' new facility will bring hundreds of new jobs to the Greenville County community. Construction of the facility will begin in December 2023, with operations planned to start in August 2025. For more information about Nissin Foods, please visit NissinFoods.com.

ABOUT NISSIN FOODS

Nissin Foods was established in 1958 by Momofuku Ando, who invented the first instant ramen noodle in Japan inspired by his belief that" peace will come to the world when there is enough food." In 1972, Nissin Foods USA opened its first plant in Gardena, California, introducing ramen noodles to American consumers. In 1971, CUP NOODLE was launched in Japan, and then debuted as Cup Noodles in the U.S. in 1973, revolutionizing the industry by creating a product that could package, prepare, and serve noodles all in one. For over 65 years, Nissin Foods has created delicious and convenient Asian-inspired meals at an affordable value. Nissin Foods USA develops and markets a variety of products including Cup Noodles®, Top Ramen®, Top Ramen® Bowl, Cup Noodles® Stir Fry®, Cup Noodles® Stir Fry® Rice With Noodles, Chow Mein, Hot & Spicy Bowl, Hot & Spicy FIRE WOK and GEKI™. The company corporate philosophy inspires commitment to taste, convenience, and quality. Visit NissinFoods.com for more information.

SOURCE Nissin Foods