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Foxconn to invest over $50 million in St. Petersburg electronics plant

Deals

Foxconn Electronics, the world’s largest provider of electronics manufacturing services (EMS), based in Taiwan, is planning to invest at least $50 million in the construction of a plant near St. Petersburg, the local administration said Monday.

Foxconn Electronics will initially partner with US electronics giant Hewlett-Packard to manufacture several HP product lines, including personal computers, LCD-monitors, and network gear to be sold in Russia and worldwide. The Taiwanese company earlier said the construction site would total 60,000 square meters and would be located in the suburbs of Russia’s second-largest city, which has a developed transportation network.

Foxconn, founded in 1973, manufactures IT-products for global electronics giants, such as Apple, Dell, Nokia, Motorola, and Sony. It posted sales revenues of about $40 billion in 2006 and plans to increase sales to $55 billion in 2007. (rian.ru)

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