Sao Paulo, Brazil, 1 Feb – Taiwan’s Foxconn is expected to build five more factories in Brazil, as well as the factory that had already been announced, for production of liquid crystal displays, said the secretary of state for planning and development of the State of Sao Paulo, Júlio Seneghini.
Cited by the Brazilian press, Seneghini said that the five new factories would manufacture laptop and desk top computers, electronic components, batteries and precision mechanical components.
The location of the new factories is under negotiation and Seneghini said that Foxconn officials were due to travel to Brazil following the Lunar New Year celebration to re-start negotiations.
According to an official government publication Foxconn will receive tax breaks including exemption or reduction of the Tax on Industrialised Products (IPI) offered to companies that invest in research and development of technological products. (macauhub)