Foxconn to invest $50 million in St. Petersburg electronics manufacturing facility

August 20, 2007

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

Foxconn will initially partner with 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 mature transportation network.

Foxconn reported sales revenues of about $40 billion in 2006 and plans to increase sales to $55 billion in 2007.

Source: rian.ru