Nissin Likely To Build Another U.S. Plant Soon
The chief financial officer of Nissin Foods says the company will likely build another plant in the U.S., but not to avoid tariffs; “simply to accommodate increasing demand in the U.S. market.”
“Our basic strategy, to produce locally, has not changed,” Takashi Yano said on the Asian version of CNBC. As a result of that philosophy and the three plants already on U.S. soil, the tariffs will have minimal effect on Nissin’s U.S. business.
“The reason we are going to establish new factory is simply to accommodate increasing demand in the U.S. market. We have doubled our sales [in the U.S.] in the past three years.” He did not specify when or where that factory will be built.
The company’s third U.S. plant, in Greenville County, S.C., should be coming online this summer. Nissin also operates plants in Gardena, Calif., and Lancaster, Pa.