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RAMEN REMAKE

HEADNOTE

Struggling Noodle Maker Gets New Owners, Another Chance

One of the first things Victor Sim did as chief executive of Union Inc. was to change the Irvine company's name

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to Solafide-latin for "by faith alone."

Sim knew he would need some faith. In June, he and a group of investors bought the $30 million a year ramen company, which was on the brink of shuttering its doors.

The noodle maker had lost $3 million annually for a decade under its former owners, who he declined to identify.

It has relatively little market presence-4%-compared to the 90%-plus of the two largest ramen makers, Japan's Nissin Co. and Maruchan Inc., which has its U.S. headquarters in Irvine.

Solafide shipments sometimes were late. Even the company's landscaping was a mess.

And it didn't look like it was going to get easier as other Asian companies, including some in China and Indonesia, are making a bid for their own piece of the U.S. ramen market.

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