Quantcast

Wisconsin one of six U.S. states Foxconn, Sharp considering for plant


Reuters

UPDATE 1-Wisconsin one of six U.S. states Foxconn, Sharp considering for plant


* Decision to made in July - Gou
    * Plant could be worth more than $7 bln
    * Focus on "rust belt" states

 (Adds quotes, details on proposed plant, background)
    By Jess Macy Yu and J.R. WuTAIPEI, June 22 (Reuters) - Foxconn <2317.TW>, the world's
largest contract electronics maker, is looking at six U.S.
states including Wisconsin as locations for a display-making
plant and would make a decision next month, top executives said
on Thursday.
    "It is one of the six we are considering," Tai Jeng-wu, CEO
of Foxconn's Japanese unit Sharp Corp <6753.T> and group vice
chairman, told reporters on the sidelines of Foxconn's annual
shareholders meeting.
    Formally known as Hon Hai Precision Industry Co <2317.TW>,
Foxconn has previously valued the proposed U.S. investment at
more than $7 billion.
    The Taiwan-based company has been eyeing U.S. investments
for some time, and Chairman and Chief Executive Terry Gou
visited the White House for talks in April. [nL4N1I05Y7]
    "In July we will make a conclusion," Gou told shareholders
at the company's annual meeting.
    Foxconn operates vast factories in China, where it employs a
million people and manufactures most of Apple Inc's <AAPL.O>
iPhones, but so far it has not invested heavily in manufacturing
the United States.
    Gou said in January that while the United States had no
panel-making industry, it was the second-largest market for
televisions. [nL4N1FC0B3]
    "This time we go to America, it's not just to build a
factory, but to move our entire supply chain there," he told
shareholders, without providing specific details.
    Gou showed shareholders a picture of the "rust belt"
depicting the states of Wisconsin, Illinois, Indiana, Ohio, West
Virginia, Michigan, Kentucky and Pennsylvania - although he did
not name any of those states as potential locations for the
plant.
    "In the U.S., the state governors' sincerity and confidence
to attract investment ... is beyond my imagination," he said.
    Foxconn already has operations in Pennsylvania.


 (Reporting by Jess Macy Yu and J.R. Wu; Editing by Stephen
Coates)
 ((jr.wu@thomsonreuters.com; +886 2 2500 4881; Reuters
Messaging: jr.wu.thomsonreuters.com@reuters.net))

Keywords: FOXCONN STRATEGY/ (UPDATE 1, PIX)



This article appears in: Stocks , World Markets , Politics


More from Reuters

Subscribe






See headlines for 2317









Research Brokers before you trade

Want to trade FX?