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Electronics Production | November 20, 2006

Foxconn adds new China plant<br> to its manufacturing family

According to Reuters, Foxconn International Holdings plans to invest around US$1.2 billion (630 million pounds) to build a new plant in China.
According to Reuters the factory will be built in China's northern city of Langfang in Hebei, between Beijing and Tianjin. The location of the plant is convenient as it lies close to the firm's customers.

"The current capacity we have in Shenzhen and Beijing won't be able to support our foreseeable future growth so we need a better piece of land for future expansion," Vincent Tong, a Foxconn spokesman, told Reuters.

"We see this as a five-year plan and we will acquire a big piece of land there," he said.

"Our CFO has already signed onto this investment", he added.
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November 15 2018 5:25 pm V11.9.0-1