Hon Hai Precision Industry Co., Ltd. (2317) To Invest $40 Million Into U.S. Manufacturing

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Hon Hai Precision Industry Co., Ltd. (TPE:2317), also known as Foxconn, is best known for being the primary manufacturer behind iPhones and iPads.  Based in Taiwan, Hon Hai Precision Industry Co., Ltd. (TPE:2317) will now be investing $40 million in the U.S. to ramp up the manufacturing of high-end products.

 

Hon Hai Precision Industry Co., Ltd. (TPE:2317) will create about 500 jobs in Harrisburg, Pennsylvania when they put $30 million into a plant for building precision tools, electric car cables, and several other advanced technologies.

Hon Hai Precision Industry Co., Ltd. (TPE:2317) will also invest another $10 million at Carnegie Mellon University in Pittsburgh, Pennsylvania for researching and developing robots.

Hon Hai Precision Industry Co., Ltd. (TPE:2317) CEO Terry Guo decided to pick Pennsylvania is because the company already has small operations in Harrisburg.

Hon Hai Precision Industry Co., Ltd. (TPE:2317) is not planning on moving the manufacturing of iPhones and iPads to the U.S.  Guo said that the company did not want to move hand-to-hand worker-related jobs to the U.S., but focus on more intelligent jobs.

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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