Hon Hai Precision Technologies will continue to invest in Taiwan, China and other global centers. Trading Markets says:
Hon Hai Precision Industry Co Ltd (2317.TW) said it will continue expanding in Taiwan, China and other places worldwide despite recent minor adjustments to its production lines.
"We will continue expansion globally to meet client demand and the location of production lines will facilitate serving clients," said an official from the company, the world's leading contract manufacturing group for information communications technology devices.
It has moved three production lines for connectors back to Taiwan from China.
"The measure coupled with previous announcement of investment in Kaohsiung signal our commitment to home production," he said.
The company recently announced plans to hire 2,000-3,000 software engineers to develop digital content and other software segments in the southern Taiwan city of Kaohsiung.
The company and group members own 20-30 manufacturing plants in China, while the three connector production lines account only to a marginal part of the group's operations on the mainland.
Meanwhile, its Hong Kong-listed unit, Foxconn International Holdings (HK 2038), is due to kick off operations at a new mobile handset new site in Langfang in China's Hebei province.
"The Langfang site has been under construction for 1-2 years," he said, noting the plant is located there to be near the leading cellular phone brands' operations.
The Hon Hai group, also known as Foxconn, has also a presence in Europe, India, Central and Latin America, among others.
To further reiterate the scope of Hon Hai and Foxconns global investment, it was reported a few weeks ago Foxconn would be developing a huge factory in Mexico that will employ 20,000 and 30,000 people. The El Paso Times reported:
A Taiwan-based company will open a massive maquiladora across the border from Santa Teresa that will employ anywhere from 20,000 to 30,000 people in the next four years and create an economic boost on both sides of the border, officials said Monday.
The plant, which may be the largest in Mexico, will be in San Jeronimo, according to an announcement by New Mexico Gov. Bill Richardson's office
Taiwan-based Foxconn broke ground a few days ago, officials said.
The plant will produce computers, laptops and servers. Motorola, Nokia, Dell, Compaq, Hewlett Packard and Apple are among its clients.
"This is one of many mutually beneficial projects that I and my economic development people have worked with Chihuahua officials to carry out," Richardson said. "This is the kind of economic development that is going to bring the New Mexico-Mexico border to the forefront of international trade and development."
The global impact of Taiwanese tech firms is not in doubt. They will continue to develop and grow in many different countries around the world. This type of investment is good for both the local economy and the firm. However, I am personally pleased to see Hon Hai is still committed to its home base Taiwan and will continue to invest in operations here. It will be good for the economy and Taiwan as a whole.
El Paso Times: Maquila bordering New Mexico to employ up to 30,000
Trading Markets: Hon Hai to continue expansion in Taiwan, China
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