Foxconn Plans Investment in U.S. Machine Tool ManufacturingBrian Wingfield
Foxconn Technology Group Chairman Terry Gou will sign a memorandum of understanding with Pennsylvania officials on an intention to invest in the state, according to a statement from the Taipei Economic and Cultural Representative Office in Washington.
Foxconn’s Hon Hai Precision will invest in machine tool automation and research and development of robotics, Taipei-based Central News Agency reported citing people familiar with the matter.
Gou is part of a Taiwan business delegation visiting the U.S. An announcement is scheduled for 5:30 p.m. local time in Washington. It “could be very significant,” Frank Yee Wang, a spokesman for the Taipei Economic and Cultural Representative Office in the U.S., said by phone. He declined to provide further details.