Fri, Nov 16, 2012 - Page 13 News List

Hon Hai buys land for Brazil expansion

By Lisa Wang  /  Staff reporter

Hon Hai Precision Industry Co Ltd (鴻海精密), which assembles iPhones and iPads for Apple Inc, yesterday said it had bought a piece of land in Brazil for 26.11 million reais (US$12.6 million) to support the Hon Hai Group’s (鴻海集團) expansion in the Latin American country.

Hon Hai said it had acquired 142 hectares of land from Toulouse Incorporacao SPE LTDA through a subsidiary, Foxconn CMMSG Industria de Electronicos Ltda, according to a company filing with the Taiwan Stock Exchange.

TARGET PRODUCTS

In September, Hon Hai spokesman Simon Hsing (邢治平) said the company planned to open five factories in an industrial park in Itu, a city near Sao Paulo, Brazil, to make iPhones, iPads, cables, cameras, touch-sensor glass, LED products, printed-circuit boards and other components.

The new facilities are expected to turn out their first batch of products in 2014 and to reach full capacity by 2016, Hon Hai said.

FACILITIES

Hon Hai Group, which provides electronics manufacturing services, now assembles Apple products at a plant in Jundiai, Brazil, in addition to four other plants in Sao Paulo and three in other Latin American states.

Hon Hai shares rose 0.33 percent yesterday to NT$90.10, outperforming the TAIEX, which retreated 0.22 percent.

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