Foxconn plans US$10 billion LCD fab in Wisconsin

2017/07/28

New Taipei City-based Foxconn Technology Group is set to invest US$10 billion on establishing a liquid-crystal display fab in the U.S. state of Wisconsin, according to FTG Chairman Terry Gou July 26.
 
 Foxconn is committed to forging the world’s most advanced 8K ecosystem in the U.S. as the technology represents the future, Gou said during a special ceremony at the White House attended by U.S. President Donald J. Trump, Vice President Michael R. Pence, House Speaker Rep. Paul Ryan, Wisconsin Gov. Scott Walker and a number of Cabinet officials.
 
 According to Gou, although TV was invented in the U.S., the country does not have a single LCD fab for ultra-high resolution panels. This is going to change today starting with Foxconn’s investment in Wisconsin, he said, adding that the move will help maintain the reputation and success of made in America products.
 
 In response, Trump said Foxconn is one of the world’s truly outstanding companies and the investment a vote of confidence by Gou in the U.S. economy.
 
 Echoing the president’s remarks, Walker said the fab is the single largest economic development project in the history of Wisconsin and one of the largest to date in the U.S. As such, the state is providing US$3 billion in economic benefits to take the partnership forward, he added.
 
 The announcement was also welcomed July 27 by Republic of China (Taiwan) Ministry of Economic Affairs. Previously, Taiwan companies tended to complete orders for the U.S. in mainland China, the MOEA said, adding that the Foxconn investment takes the country directly to one of the world’s highest-profile markets while raising its global competitiveness.
 
 Foxconn and Wisconsin will shortly ink a memorandum of understanding on the 20 million-square-foot complex. Scheduled for completion in 2020, the state-of-the-art facility is expected to create 30,000 jobs statewide and become a global center for cutting-edge technology and innovation.
 
 LCD displays are used in TV sets, computer monitors and vehicle dashboards, with 8K resolution poised for rollout in fields such as entertainment and health care.
 
 Established in 1974 under the name Hon Hai Precision Ind. Co. Ltd. as a supplier of electronic components, Foxconn is the world’s largest contract electronics-maker whose customers include Apple Inc.

Source: Taiwan Today (http://taiwantoday.tw/news.php?unit=6&post=119059)