Foxconn Focuses U.S. Hunt

TAIPEI—Taiwan’s Foxconn Technology Group, which assembles Apple Inc.’s iPhones in China, is looking at seven states in the American heartland where it would invest $10 billion or more to manufacture flat-panel screens and related equipment.

“Over the years, manufacturing of consumer goods has shifted out of the U.S.,” Terry Gou, the chairman of the company formally known as Hon Hai Precision Industry Co., told reporters after the company’s annual shareholders meeting Thursday. “We will bring our advanced technology there to revive American manufacturing.”

Foxconn’s U.S. ambition, which Mr. Gou flagged in January, comes amid a flurry of U.S. investments announced by Asian companies as President Donald Trump seeks to stimulate American manufacturing. A Foxconn executive said the seven states under consideration are Illinois, Indiana, Michigan, Ohio, Pennsylvania, Texas and Wisconsin. Foxconn will work together with Sharp Corp., the Japanese electronics maker acquired by Foxconn last year, on the U.S. plants, he said. Foxconn also plans to build supply chains and introduce automation technologies to its U.S. operations, Mr. Gou said. The company will decide on more details by early August, he said.

Mr. Gou said that he has met with three state governors, without specifying which ones. Governors from Michigan, Ohio and Wisconsin have visited Japan to meet Mr. Gou, according to people familiar with the matter.

A Foxconn spokesman declined to comment.

In January, Mr. Gou said he hoped to invest $7 billion in the U.S. The investment could create 30,000 to 50,000 jobs in the U.S., he has said.

In the shareholders meeting, Mr. Gou also said Foxconn hasn’t given up on its efforts to buy Toshiba Corp.’s memory-chip unit, which the Japanese electronics maker is seeking to sell for some $20 billion. On Wednesday, Toshiba said it had chosen as its preferred bidder a consortium that includes a Japanbacked investment fund and a state-owned bank. “We still have a chance,” Mr. Gou said.


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