Becomes First Food Manufacturer to Obtain HK$15M Maximum Funding Support
To Implement Smart Production Line in Hong Kong
HONG KONG, 2021年11月9日 – (JCN Newswire) – Nissin Foods Company Limited (“Nissin Foods”, and together with its subsidiaries, the “Group”; Stock code: 1475) is pleased to announce that it has received approval for the maximum funding support of HK$15 million (the “Funding Support”) under the Re-Industrialisation Funding Scheme (“RFS”) of the Innovation and Technology Commission (“ITC”) today (9 November 2021), to be used for the installation of a new smart production line in Hong Kong.
The signing ceremony was attended by (from left to right): Mr. Indiana WONG, Assistant Commissioner for Innovation and Technology (Funding Schemes); Ms. Rebecca PUN, The Commissioner for Innovation and Technology; Mr. Kiyotaka ANDO, Executive Director, Chairman, and CEO of Nissin Foods Company Limited; and Mr. Yasuhiro YAMADA, Executive Director of Nissin Foods Company Limited.
The Funding Support will be used to implement a new smart and automated production line in one of Nissin Foods’ production plants located at the Tai Po Industrial Estate. The new line will employ robotics, sensors, and smart systems for the production of instant noodle products, enabling real-time monitoring of the production process. Scheduled for completion by July 2023, the new smart production line is set to improve production and space efficiency, as well as production flexibility, which is in line with Nissin Foods’ business development strategy to maintain its leadership position in Hong Kong.
The HKSAR Government (the “Government”) has been promoting re-industrialization in order to enhance economic growth and to develop a strong high-end manufacturing industry in Hong Kong. Launched in July 2020 under the ITC, the RFS aims to encourage smart manufacturing by providing subsidies to companies that set up smart production lines in Hong Kong. Nissin Foods is proud to be the first food manufacturer and the second company to receive the maximum funding support from the RFS, demonstrating its commitment to developing a strategic business in Hong Kong and to upskill industry talents to become subject matter experts through the use of smart technologies.
Ms. Rebecca PUN, the Commissioner for Innovation and Technology, said at the signing ceremony of the funding agreement, “We are glad that the well-known food group, Nissin Foods Company Limited, will set up a new smart production line for instant noodles in Hong Kong through the adoption of smart technologies. Since the launch of the RFS, about half of the applications were from the food manufacturing and processing industry, testifying to the huge potential the industry enjoys in moving towards re-industrialization in Hong Kong. We will continue to support smart production and re-industrialization of local food manufacturing and processing industry, strengthening the ‘Made in Hong Kong’ brand'”.
Mr. Kiyotaka ANDO, Executive Director, Chairman, and Chief Executive Officer of Nissin Foods said, “Nissin Foods is proud to be the first food manufacturer and the second company to gain approval for the maximum funding under the Re-Industrialisation Funding Scheme. Our dedication to the development of smart production in Hong Kong echoes the Government’s call for technological advancement in local manufacturing. As a leading food manufacturer, we are committed to providing consumers with quality products by continuously improving our production and efficiency. We believe the integration of advanced technologies will strengthen our overall competitiveness and create sustainable value for our stakeholders.”
Quoted from:
https://www.acnnewswire.com/press-release/japanese/70838/nissin-foods-receives-funding-approval-from-re-industrialisation-funding-scheme