Raevenlord
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Taiwan-based Foxconn, one of Apple's main suppliers, is looking to expand its operations in the US to the tune of $10 billion. The company is still deciding which state will get the greatest solo investment, in the form of a $7 billion display factory (worth mentioning here is that Foxconn's display manufacturing has seen a recent buff by the acquisition of Sharp.) Reportedly, investments are being considered in Ohio, Pennsylvania, Michigan, Illinois, Wisconsin, Indiana, and/or Texas. There was no given timeframe for the construction's start or finish, but a final decision should be made public in July. Foxconn's CEO Terry Gou also vowed to press on with a bid for Toshiba Corp.'s semiconductor business, although the Japanese company has already selected a preferred buyer in the form of a Japanese and US joint venture. Such a deal could cost $27 billion and introduce Foxconn (and, likely but indirectly, China) into the memory chip business.
"Our investment in the U.S. will focus on these states because they are the heart of the country's manufacturing sector," Terry Gou told investors. "We are bringing the entire industrial chain back to the traditional manufacturing region of the U.S. That may include display making, semiconductor packaging and cloud-related technologies," Gou told reporters later, without elaborating. If such a venture succeeds, that spells great news for the US economy and employment opportunities, even though Foxconn has been investing in the development of a more automated production environment, in a bid to cut workforce costs. One thing is certain: whichever the state that ends up being chosen will see tremendous value added to its economy. Remember, where a big investment lands, other satellite investments soon follow, be it in infrastructure or other areas.
View at TechPowerUp Main Site
"Our investment in the U.S. will focus on these states because they are the heart of the country's manufacturing sector," Terry Gou told investors. "We are bringing the entire industrial chain back to the traditional manufacturing region of the U.S. That may include display making, semiconductor packaging and cloud-related technologies," Gou told reporters later, without elaborating. If such a venture succeeds, that spells great news for the US economy and employment opportunities, even though Foxconn has been investing in the development of a more automated production environment, in a bid to cut workforce costs. One thing is certain: whichever the state that ends up being chosen will see tremendous value added to its economy. Remember, where a big investment lands, other satellite investments soon follow, be it in infrastructure or other areas.
View at TechPowerUp Main Site
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