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HuaLong to Invest CNY 0.2bn in Expanding the Present Wheater
(SinoCast Via Thomson Dialog NewsEdge)BEIJING, Mar 16, 2006 (SinoCast via COMTEX) --On March 14, Hua Long Group announced that it will start its new factory construction in Kunming, Yunnan Province, Sinkiang, Lanzhou, Gansu Province, Shanxi Province and Fujian Province and target at the domestic medium and high ranking fast noodles market.
It is reported that over CNY 0.2bn is invested in building the five factories which are large-scaled and have advanced manufacturing facilities and their products will be "Present Wheater series"-based.
The fast noodles market has been dominated by such high-end urban markets like Masterkong, and Hualong has an edge in the rural areas but is at a disadvantage in cities. Therefore, from 2002 Hualong has changed its strategy to the high-end market marked by the Present Wheater.
Fan Shiguo, president of Nissin Hualong, introduced that this time a huge investment in Northwest China, Southwest China and Southeast China aims to focus on large cities and then spread to the surrounding areas. This strategy aims at broadening the non-traditional markets.
From Jinghua Times, Page 1, Wednesday, March 15, 2006
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