Hon Hai (Foxconn) to invest 1 billion Brazilian reais (US$494 million) to build a new industrial park next year in Itu City, Sao Paulo, Brazil
Taipei, Sept. 19 (CNA) Taiwan’s Hon Hai Precision Industry Co. said Wednesday it will sign an agreement with the government of Brazil to build manufacturing plants in that South American country. Hon Hai, better known as Foxconn Technology Group, was expected to ink the deal in Brazil later in the day or Thursday, company spokesman Simon Hsing told reporters on the sidelines of a charity event in Taipei. He declined to reveal terms of the agreement. Hsing made the statement after the Brazil-based news agency Estadao reported that Foxconn will invest 1 billion Brazilian reais (US$494 million) to build a new industrial park next year in Itu City, Sao Paulo. The new complex will host up to five manufacturing plants for smartphones, tablets and electronic components and create about 10,000 jobs, the report said. The electronic components will include cables, cameras, touch screens, light-emitting diodes (LEDs) and printed circuit boards (PCBs), it said. Foxconn, which assembles iPhones and iPads for Apple Inc., expects the new plants to start production in 2014 and reach full capacity in 2016, the report said. It means that basically all of the components for iPhone and iPad production will be made in Brazil, except for thin-film transistor (TFT) displays, which would require a huge sum for the establishment of a production unit, the report said. Currently, Foxconn has eight factories in Brazil — one assembly plant for Apple products in Jundiai City, four plants in Sao Paulo and three in other states, according to the report. Hon Hai has footholds in China, Japan, Vietnam, Turkey, Hungary, the Czech Republic, Finland, Russia, Brazil, Mexico and the United States. Most of Hon Hai’s plants are located in China, but theTaiwanese conglomerate said it is mulling expansion in Brazil and Indonesia.
(By Jeffrey Wu)
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