iPhone maker Foxconn to invest in USD40 million in Pennsylvania
Foxconn Technology Group plans to invest USD40 million over the next two years in Pennsylvania. The funding will be used to develop robotics and build products in the US. This was according to a report published by Bloomberg.
Hon Hai Precision Industry Co, Foxconn's flagship company, would be investing USD30 million for a high-tech manufacturing facility. According to Foxconn chairman Terry Gou, the facility will product goods such as telecommunications equipment and Internet servers. He also said the company would also fund a USD10-million research and development project at Pittsburgh's Carnegie Melon University, the report said.
In a company statement, Foxconn said it will provide financing for a manufacturing plant in Harrisburg. This project would reportedly create around 500 jobs in the state capital. At present, the firm already has a manufacturing unit with 30 employees, said the report.
Foxconn is the maker of Apple Inc's iPhone. The company is also a major supplier to Hewlett-Packard Co, Bloomberg reported.
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