Foxconn to Inject US$4.4 Bln in Optoelectronics Project in Xiamen
May 21, 2009
Taiwan-based Foxconn Technology Group plans to
inject around 30 billion RMB (US$4.4 billion; US$1=6.8 RMB) to expand its optoelectronics
operations in Xiamen, China, according to a Chinese-language China Times report
on May 20, 2009. With the 30 billion RMB investment, Foxconn expects to create
an optoelectronics industry cluster in the Haicang Investment Zone of Xiamen.
Innolux Display, the LCD (Liquid Crystal Display) panel manufacturing unit of
Foxconn, has set up two subsidiaries - including Innocom Technology - in Xiamen
to support its LCD TV assembly business as well as 6G and newer-generation LCD
panel production lines. Thus far, Innolux has spent an initial amount of US$55
million on its Xiamen operations, including the establishment of an LCM (LCD
Module) production facility in 2008. It is reported that Innocom has begun
large-scale recruitment in Xiamen.