Hon Hai Approves USD 275 Mln Mainland Investment Plan
Netease Tech, 10/20/10
The board of directors of Hon Hai Precision Industry (2317.TW), Taiwanese manufacturer of electronics parts, components and products, and parent company of Foxconn (2038.HK; 2354.TW), has approved investments totaling USD 275 mln (roughly NTD 8.5 bln), in factory projects in 6 locations in mainland China. The investments include USD 15 mln in a switch and router factory in Chongqing, USD 5mln in a computer factory in Huizhou, Guangdong Province, a second round of investment totaling USD 120 mln in a mobile phone factory in Zhengzhou, Henan Province, and a second round of investment totaling USD 80 mln in a tablet PC factory in Chengdu, bringing total Hon Hai investment in the facility to USD 100 mln. Other projects include additional investment totaling USD 25 mln in a printed circuit board factory in Zhun'an, Jiangsu Province, and an investment of USD 3 mln in a precision mold factory in Shenzhen.
According to media reports, Foxconn's factory in Chengdu has produced its first batch of iPads. The devices have passed export and customs inspections, and have arrived in the US via Hong Kong. Foxconn will be adding 52 additional iPad production lines to the Chengdu factory, increasing its annual production capacity to 40 mln units.
Keywords: wireless computer hardware investment production capacity Foxconn 2038.HK 2354.TW PC Hon Hai 2317.TW tablet iPad contract manufacturer handset component PCB production facility cross-straits investment
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