Foxconn invests $500 million in Brazil for new factories

The company that makes Apple's iPad says the factories will create 10,000 jobs.

September 20, 2012
by The Canadian Press

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 has confirmed it will sign the investment agreement on Thursday.

Foxconn makes Apple’s iPads and employs more than 1 million people.

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

©The Canadian Press