Sep. 20, 2012 (China Knowledge) - Hon Hai Precision Industry Co, the world's largest contract electronics manufacturer by revenue and the parent company of Hong Kong-listed
Foxconn International Holdings<2038
>, has said it will set up a new plant in Brazil.
With a total investment of about US$492 million, this will be the company's fifth plant in Brazil.
Hon Hai Precision said the new plant will start operation in 2014 and realize full production in 2016. The plant will manufacture mobile phones and tablet PCs with a total employee of 10,000.
In the first half of this year, the contract electronics manufacturer saw its operation revenue surged 25% YoY to NT$1.89 trillion, while its net profit for the six-month period hit NT$27.53 billion, up 0.5% YoY, China Knowledge reported earlier.