- Title: Foxconn plans U.S. display making plant for over $10 bln, scouting for location
- Date: 22nd June 2017
- Summary: NEW TAIPEI CITY, TAIWAN (JUNE 22, 2017) (REUTERS) ****WARNING: CONTAINS FLASH PHOTOGRAPHY*** (SOUNDBITE) (Mandarin) FOXCONN CEO, TERRY GOU, SAYING: "I think, what I can say at the moment is more than that (the number journalist questions). It might be over than $10 billion dollars because we are the whole industrial chain. But it's not a one-year program, it might be a five-year program." LINE OF CAMERAS SENOR EMPLOYERS SEATED (SOUNDBITE) (Mandarin) FOXCONN CEO, TERRY GOU, SAYING: "Those five or six states include Wisconsin, Ohio, Michigan, Pennsylvania and North Carolina, ok? I remember it's probably five or six states. (Those states) in the past were the centre of the manufacturing industry in the United States." ULTRA HIGH DEFINITION TV SCREEN FOXCONN BOARD DIRECTOR AND EXECUTIVE VICE PRESIDENT, LU FANG-MING INTRODUCING PRODUCTS TO MEDIA CAMERAMEN FILMING LU SPEAKING (SOUNDBITE) (Mandarin) FOXCONN CEO, TERRY GOU, SAYING: "Because it's related to the recruitment. Today if you manufacture in the United States, it is definitely not like manufacturing in China with many manufacturing processes. It is impossible because the salary is pretty high in the United States. There must be an automation, there must have many robots, or even many intellectual manufactures." GOU BOWING GOU SPEAKING TO MEDIA
- Embargoed: 6th July 2017 12:24
- Keywords: Foxconn display making plant US location plant
- Location: NEW TAIPEI CITY, TAIWAN
- City: NEW TAIPEI CITY, TAIWAN
- Country: Taiwan
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA0036MD02A5
- Aspect Ratio: 16:9
- Story Text:Foxconn, the world's largest contract electronics maker and a major Apple Inc. supplier, plans to invest more than $10 billion in a display-making factory in the United States and will decide on the location of the plant next month.
The Taiwan-based firm has been eyeing U.S. investments for some time and its CEO, Terry Gou, had previously said the company hoped to spend over $7 billion to set up a display-making plant in the country - which has no panel-making industry but is the No. 2 market for televisions.
Foxconn, formally known as Hon Hai Precision Industry Co., is currently considering Wisconsin, Ohio, Michigan, Pennsylvania and North Carolina as possible locations, Gou told reporters after the company's annual shareholders meeting on Thursday.
Foxconn operates vast factories in China, where it employs a million people and makes most of Apple's iPhones, but so far it has not invested heavily in manufacturing in the United States.
- Copyright Holder: REUTERS
- Copyright Notice: (c) Copyright Thomson Reuters 2017. Open For Restrictions - http://about.reuters.com/fulllegal.asp
- Usage Terms/Restrictions: None