Tingyi (Cayman Islands) Holdings Corp (鼎益控股), China's biggest noodlemaker, plans to sell instant noodles in Taiwan, signaling a possible price war with Taiwan's biggest foodmaker, Uni-President Enterprises Co (統一企業).
Tingyi, started in 1992 by the Taiwanese Wei brothers, expects to grab a tenth of the nation's noodle market, Chief Financial Officer Frank Lin said without specifying a time frame.
Based in Tianjin, in northern China, Tingyi will enter Taiwan with the "Master Kang" (
Its announcement may herald more such challenges for Taiwan's food, textile, steel, chemical and other industries as eased cross-strait trade rules -- expected after China and Taiwan's imminent entry into the WTO -- allow companies to market lower-cost China-made products in Taiwan.
"There will be price pressure with more brands and more choices," said Simon Lu, who helps manage NT$1 billion (US$29 million) in equities at Truswell Securities Investment Trust Ltd in Taiwan.
Tingyi shares rose 10.5 percent to HK$1.26 in morning trade in Hong Kong. Shares of Uni-President Enterprises were trading at NT$11.70, up 2 percent.
Singapore-listed Want Want Holdings Ltd (
Sister Company Tingyi is betting that the retail network of its sister company, Wei Chuan Food Corp (
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