Terry Gou (郭台銘), chairman of manufacturing giant Hon Hai Precision Industry Co (鴻海) and presidential hopeful for the Chinese Nationalist Party (KMT), was last night to travel to the US for a meeting in the White House that is believed to be related to an investment in Wisconsin, a source with direct knowledge of the matter said.
Hon Hai issued a statement on April 19 — days after the state’s governor said he wanted to renegotiate the deal — saying that it remains committed to its contract to build a display plant and tech research facilities in Wisconsin.
Sources close to Gou would not reveal the trip itinerary or the names of people he plans to meet, but said that Gou would like to address doubts that have hounded the project since Wisconsin Governor Tony Evers’ inauguration in November last year.
Photo: AP
The Milwaukee Journal Sentinel on April 17 quoted Evers as saying that he doubted the deal with Hon Hai would create 13,000 jobs as planned.
“Clearly the deal that was struck is no longer in play, and so we will be working with individuals at Foxconn and of course with [Wisconsin Economic Development Corp] to figure out how a new set of parameters should be negotiated,” Evers was quoted as saying.
The deal, which includes about US$3 billion in incentives if Hon Hai meets investment and job creation targets, was signed in November 2017 with the backing of former Wisconsin governor Scott Walker.
Photo: EPA-EFE
Hon Hai has in the past year shifted the focus of the planned manufacturing complex for LCD flat panels.
Originally slated to manufacture large screens for TV sets, potential high costs have forced Hon Hai to reclass the complex as a maker of smaller flat panels for various industries.
Construction on the facility is expected to begin by the summer and production could start by the fourth quarter of next year, Hon Hai said.
Gou’s trip has drawn close scrutiny from the Taiwanese media as the business tycoon seeks to become the nominee of the KMT in next year’s presidential election, and his interactions with US officials carry political significance.
News of Gou’s trip has led to speculation over whether he would be meeting with US President Donald Trump.
Trump, who also jumped into politics after a career in business, in June last year attended a groundbreaking ceremony for the Wisconsin project and described Gou as “one of the most successful” businessmen in the world.
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