Canadian Manufacturing

iPad maker Foxconn signing $500M Brazil investment agreement for new plants

Company says factories will produce circuit boards, cameras and touch-sensitive screens

BRASILIA, Brazil—Taiwan’s Foxconn Technologies Group will sign a memorandum of understanding with Brazil’s Sao Paulo state government to invest $500-million for new factories in Latin America’s biggest nation.

That’s according to a statement from Investe SP, a government-run investment promotion company.

It says 10,000 jobs will be created at the factories, which will produce circuit boards, cameras and touch-sensitive screens.

Foxconn referred all questions to Investe SP, but did confirm it will sign the investment agreement.

Foxconn makes Apple’s iPads and employs more than one million people.

In Brazil, Foxconn already employs about 8,000 people at seven facilities spread around Brazil.

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