Hon Hai Precision Industry Co. chairman Terry Gou has told reporters that Foxconn, the company’s main subsidiary, will bring “our advanced technology there to revive American manufacturing.” The Wall Street Journal reports:
In his remarks, Mr. Gou said Foxconn is considering roughly five states for potential investments, but a company executive later clarified that to say that seven states are candidates: Illinois, Indiana, Michigan, Ohio, Pennsylvania, Texas and Wisconsin. Foxconn will work together with Sharp Corp. , the Japanese electronics maker acquired by Foxconn last year, on the U.S. plants, he said.
Foxconn also plans to build supply chains and introduce automation technologies to its U.S. operations, Mr. Gou said. The company will decide on more details by the end of July to early August, he said.
Mr. Gou said he has met with three state governors, without specifying which ones. Governors from Michigan, Ohio and Wisconsin have visited Japan to meet Mr. Gou, people familiar with the matter said. A Foxconn spokesman declined to comment.
In January, Mr. Gou said he hoped to invest $7 billion in the U.S. and has welcomed pitches from state governments. The investment could create 30,000 to 50,000 jobs in the U.S., he has said.
Read more here.
Foxconn plans US plant for over $10 bln
Latest posts by Dick Young (see all)
- Overseas Money Hoard Grows in Response to Failed U.S. Tax Policies - July 24, 2017
- The Shrinking U.S. Wheat Crop - July 21, 2017
- Tech Stocks Top DotCom Highs, Finally - July 20, 2017