Hon Hai group, controlled by Taiwan-based billionaire Terry Gou (
The factories, to be located at the Qinhuangdao Economic and Technological Development Zone in Hebei province, may employ as many as 30,000 workers, Sun Liming, a spokesman for the development zone, said yesterday by telephone. Calls to the mobile phone of Hon Hai spokesman Edmund Ding (丁祈安) went unanswered.
The group, which includes Hon Hai Precision Industry Co (鴻海精密), the world's largest maker of electronics for other companies, is expanding production on increased sales to customers such as Apple Inc and Chinese phone equipment maker Huawei Technologies Co (華為技術). Hon Hai Precision said in January it may invest US$1 billion to build factories in Vietnam to help the company meet sales targets.
Hon Hai still needs Chinese government approval for the investment, Sun said. The group hasn't set a timeframe for construction of the plants, whose products may include printed circuit boards used to connect electronic parts, he said.
Sales at Hon Hai Precision rose 42 percent from a year earlier to NT$71.6 billion (US$2.2 billion) in February.
In June last year, chairman Gou said he aimed to raise the company's annual sales by an average 30 percent for five years.
Hon Hai Precision shares fell 1.1 percent to close at NT$219.50 on the Taiwan Stock Exchange. The stock dropped 5.6 percent this year, compared with a 0.8 percent gain in the benchmark TAIEX index.
Gou is Taiwan's second-richest person with an estimated wealth of US$5.5 billion, behind Cathay Financial Holding Co (
‘ACCORDING TO PLAN’: A company official said that it has set up production sites worldwide to provide services and that its Wisconsin project was going smoothly Hon Hai Precision Industry Co’s (鴻海精密) smart manufacturing center in Wisconsin would begin trial manufacturing in the middle of this year, the company said yesterday, adding that it plans to build a research institute to develop key technologies to support growth over the next five years. Hon Hai, known internationally as Foxconn Technology Group (富士康科技集團), said in an annual report submitted to the Taiwan Stock Exchange that its planned Foxconn Institute for Research in Science and Technology would conduct research into artificial intelligence, next-generation communications, quantum computing, cybersecurity and nano semiconductors in Taiwan. Hon Hai is to make products at the center
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