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Foxconn plans US plant for over $10 bln

Thursday, June 22, 2017 - 01:21

Foxconn, the world's largest contract electronics maker, says it's looking at six U.S. states as locations for a display-making plant and will make a decision next month. As David Pollard reports, the firm - formally known as Hon Hai Precision Industry - also says it will continue to pursue an acquisition of Toshiba's chip business.

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This is Ohio. In rust belt states like this the stakes were highest in last November's US election. If - seven months later - cynics say they're not yet winners under Donald Trump. Now, Foxconn and its Japanese unit Sharp are taking a spin at the wheel. Announcing they're considering locations in six US states - all thought to be in regions of industrial decline - for a new plant. (SOUNDBITE) (Mandarin) FOXCONN CHIEF EXECUTIVE TERRY GOU SAYING: "This time we go to America, it's not just to build a factory, but to move our entire supply chain there." A promise worth potentially ten billion dollars - from a company with a reputation for scale. Also known as Hon Hai Precision, the Taiwanese firm also has vast factory complexes in China - where alone it employs a million people - and manufactures most of Apple's iPhones. It hasn't yet invested heavily in the US. But says the incentives are there. (SOUNDBITE) (Mandarin) FOXCONN CHIEF EXECUTIVE TERRY GOU SAYING: "The U.S. state governors' sincerity and confidence to attract investment, the executive power in their policies to return manufacturing to the U.S., has been beyond my imagination," A decision will be made in July. While in the meantime, it says it will continue to pursue its other ambition - the acquisition of Toshiba's chip business.

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Foxconn plans US plant for over $10 bln

Thursday, June 22, 2017 - 01:21