Foxconn acquires 350 acre site in Brazil
The emerging markets in South America are making a very attractive environment for manufacturers and Brazil is leading the charge with favorable taxes and a fast growing economy. Foxconn already operates four factories there, and has just acquired a 350 acre site from Toulouse Incorporacao SPE LTDA for about $12.6 million as part of the company’s effort to expand operations in South America.
Foxconn has stated plans to invest about half-a-billion dollars in Brazil to build new facility which will produce smartphones, tables and other components. Brazil is South America’s largest economy and has attracted large investments as a viable alternative to operations in China.
source: The Times of India