Taiwan's Hon Hai Precision Industry Co Ltd, the world's largest electronics manufacturer, said on Friday it plans to invest $40 million in the U.S. state of Pennsylvania as part of its diversification away from its low-margin contract business.The company said it will invest $30 million to hire 500 employees in Harrisburg, Pennsylvania, over the next two years to build a high-end supply chain and will invest $10 million to jointly develop robotics with Carnegie Mellon University.
Hon Hai, also known as Foxconn, is investing in a US plant
"Investing in the U.S. is not for manufacturing for specific brands as speculated in the market," company chairman Terry Gou said. "We are here to build a high-precision, high-tech and high value-added manufacturing industry."The Taiwanese company, better known by the trading name Foxconn and the major maker of Apple Inc products, said earlier this month it was considering building a plant in Arizona to make large display panels and large-panel TVs to expand in the U.S. market.ReadMore:Android Games
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