Foxconn to Decide on U.S. Location for $7 Billion Display Plant by July [Report]

Foxconn to Decide on U.S. Location for $7 Billion Display Plant by July [Report]

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Foxconn is readying a $10 billion investment across multiple U.S. states and will decide by July on the location of a $7 billion display plant, reports Bloomberg. Founder Terry Gou is also planning to continue bidding for Toshiba's semiconductor business, a deal that could be worth $27 billion.

The founder of Foxconn, whose main listed arm is Hon Hai Precision Industry Co., is now weighing the pros and cons of locating the factory in one of several U.S. states, including Wisconsin. Taiwan’s richest man said he’d been in dialog with the White House and various state governors -- one of whom called him moments before he kicked off Thursday’s shareholders meeting. A cutting-edge plant in the Midwest would mark a victory for President Donald Trump and his effort to bring jobs back to America.

“Our investment in the U.S. will focus on these states because they are the heart of the country’s manufacturing sector,” he 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.

The display plant could be located in one of six states, Wisconsin being one of them. Gou also revealed that Foxconn's U.S. investments could be made in seven states: Ohio, Pennsylvania, Michigan, Illinois, Wisconsin, Indiana and Texas.

The major investment could end up creating 'tens of thousands' of American jobs.

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Foxconn to Decide on U.S. Location for $7 Billion Display Plant by July [Report]
Pamela5 - June 23, 2017 at 5:39am
(Applause)
Cmon - June 22, 2017 at 8:42pm
He's going build clouds in the Midwest?
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