Foxconn, which manufactures electronic equipment, announced that it intends to invest $ 4,65 billion in the construction of a new factory in Guyame, China, the purpose of which is to create new modern LCD screens.
Legally, the new venture will own the Century Technology Fund and Guyam city in China. Percentagewise the fund receive 76% of the company, and the Century Technology company – the remaining 24%. Century Technology is the firm that created by the joint efforts of Foxconn and the country in the face of state authorities in Shenzhen.
The enterprise Guyame will use the new technology in the production of modern electronic products. First, the Foxconn management said thatthey plan to begin construction of a new enterprise in the end of this year, and the first batch of goods to be released to the end of 2017. However, in the Western press it was reported that the construction has not yet begun. Foxconn’s management did not comment on the situation.
Foxconn is not limited plans for Guyama, the similar factory to be built in Taiwan; Foxconn company will invest in the construction of facilities together with Innolux. Also in northern China, the company will launch from Foxconn. The new factories should start their work in the first half of 2016 and 2018.
Analysts commented differently grandiose plans for expansion of Foxconn. According to them, this decision will be a success in that case there is clearly developed strategy and business plan.
Source: ixbt.com/news
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