September 19, 2012 / 8:22 AM / 6 years ago

Hon Hai says to invest about $500 million in new Brazil assembly complex

TAIPEI (Reuters) - Hon Hai Precision Industry said on Wednesday it will set up a new production complex to make tablets, smartphones and components in Brazil, investing some 1 billion reais ($500 million) to create about 10,000 jobs.

In a statement, Hon Hai, the world’s largest assembler of electronic devices which trades under the Foxconn name, said the new complex in Sao Paulo will house five production sites, and it will sign an agreement with Sao Paulo city on Thursday.

It did not say which brand of products the site would make. Production will start in 2014 and reach full capacity in 2016.

Most of Hon Hai’s plants are in China, but the company, Apple Inc’s main manufacturing partner, has sought to expand in Brazil and Indonesia. It currently has eight plants in Brazil.

Reporting by Clare Jim; Editing by Jonathan Standing and Muralikumar Anantharaman

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