BIZCHINA / Overseas Investment
Foxconn to invest US$1.2b in new mainland plant
(Shenzhen Daily-Agencies)
Updated: 2006-11-21 14:33
Foxconn International Holdings, the mobile handset arm of Taiwan's Hon
Hai Precision Industry Co, plans to invest around US$1.2 billion to build
a new plant on the mainland, a company spokesman said yesterday.
The factory will be built in the northern city of Langfang in Hebei
Province, between Beijing and Tianjin. The location of the plant is
convenient as it lies close to the firm��s customers.
As global demand grows, Foxconn, which produces mobile phones for the
likes of Nokia and Motorola Inc, has also been looking at other sites to
build more facilities on the mainland.
"The current capacity we have in Shenzhen and Beijing won't be able to
support our foreseeable future growth so we need land for future
expansion," Vincent Tong, a Foxconn spokesman, told reporters by
telephone.
"We see this as a five-year plan," he said. ��Our CFO has already signed
onto this investment."
Operative in 1994, Foxconn's Shenzhen factory employs more than 100,000
workers and has been the top exporter among overseas investments in
Shenzhen over recent years.
Hon Hai, Taiwan's top electronics parts maker, has been aggressively
securing orders from top multinational vendors under its Foxconn
subsidiary to strengthen its stance in the highly competitive mobile
phone industry.
Hon Hai, with a market value of US$31.4 billion, is Taiwan's largest
listed technology firm by revenue and it makes iPods for Apple Computer
Inc, computers and components for Dell Inc., Hewlett-Packard and Sony
Corp.
(For more biz stories, please visit Industry Updates)
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