Foxconn Building High-Tech $210 Million Apple Plant
A new report has asserted that Hon Hai Precision Industry, also know as Foxconn, is investing $210 million in an upcoming plant in Huai’an city which is meant to help satisfy the ever-growing demand for Apple products around the world.
Though this facility would not be as big as Foxconn’s other plants in Shenzen where an estimated 200,000 workers churn out millions of devices each month, it will employ 35,8000 workers.
The China Daily based the report on the official confirmation by the office of Taiwan Affairs of Huai’an.
Foxconn Technology Group will invest $210 million to build an Apple production line in October in east China’s Jiangsu province, local authorities announced Monday.
The plant housing the production line, to be located in Huai’an city, will produce components for American multinational corporation, Apple Inc, said the office of Taiwan Affairs of Huai’an city.
The new facility is said to stretch 40,000 square meters. It is expected to be capable of producing up to $1.1 billion worth of products.
Foxconn will begin construction of the plant in October 2012. It was not known at press time which products will be assembled at the new facility.
As Apple’s products are gaining more and more popularity, the manufacturing scale also needs to grow.
To meet this demand, Foxconn, Apple’s favorite contract manufacturer, has opened new plants in Brazil that currently produce iPhones.
Some more rumors say that Apple is looking to make a massive $9.76 billion investment in Foxconn, ahead of a rumored television set launch that Foxconn representatives recently hinted at. They were quick to deny their comments later.
Apple is also reportedly investing some of its $110+ billion in cash reserves toward improving labor conditions in Foxconn plants.
Foxconn is opening new plants and making strategic acquisitions such as buying a stake in Sharp coincides with Tim Cook’s CEO tenure.
Source: iDownload Blog