Hon Hai moves European headquarters to Hungary
Monday, August 15, 2005, 00:00
The Taiwanese company Hon Hai Precision Industry has moved its European headquarters to Hungary from Finland to keep close to mobile phone customer Nokia, according to a local press report citing Hon Hai executives, Dow Jones reported. Hon Hai has completed the second stage of expansion at a plant in Hungary that will double handset production at the factory and make it Europe's largest facility for mobile phone production, the Taiwanese paper Commercial Times reported, citing Chung Wen-hsin, vice president of Hon Hai's Foxconn subsidiary. Hon Hai shifted production to Hungary in part to help cut production costs, the report said. Foxconn Hungary opened a USD 45 million electronic components factory at the industrial park in Komárom, northwest Hungary last year. Nokia also has a plant in the Komárom industrial park.