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Foxconn's Gou to announce plan to invest in Pennsylvania

  • CNA
  • 2013-11-22
  • 13:07 (GMT+8)
Foxconn chairman Terry Gou in Washington DC on Thursday. (Photo/CNA)

Foxconn chairman Terry Gou in Washington DC on Thursday. (Photo/CNA)

Taiwan's Hon Hai group chairman Terry Gou is expected to announce a plan to invest in the automation of machine tool manufacturing in Pennsylvania Thursday, it was learned Wednesday.

Gou, whose business in China goes under the name Foxconn, will sign a memorandum of understanding with the eastern US state's government, which will also cover investments into the research and development of robotics, according to insiders.

Gou is currently in the United States with a high-profile delegation of Taiwanese business leaders led by former vice president Vincent Siew.

Attracting investment into the US manufacturing industry is a key policy of the Obama administration. As labor cost is high in the US, spending money on the automation and robotics industries would be a feasible investment, officials said.

Gou's plan to make the announcement was revealed after he wrapped up a visit to Pennsylvania and joined other delegation members in Washington DC, where he met with Robert Menendez, chairman of the Senate Foreign Relations Committee.

Menendez reportedly asked Gou and other Taiwan high-tech industry leaders to invest in his home state New Jersey.

Gou's Hon Hai group is known for assembling iPhones and iPads for US tech giant Apple. His Foxconn company employs one million workers in China.

References:

Terry Gou 郭台銘

Vincent Siew 蕭萬長

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