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Foxconn Calls Asian Story on Wisconsin 'Inaccurate'

Foxconn Calls Asian Story on Wisconsin 'Inaccurate'

Updated: May 23, 2018 12:00 PM

MADISON, Wis. (AP) - Foxconn Technology Group says an article saying that it plans to shift the focus of what is made at its Wisconsin plant to reduce costs is "inaccurate and is not based on any facts."

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Foxconn reacted Wednesday to a story published by the Nikkei Asian Review citing unnamed sources saying the Taiwan-based company was looking at producing small to medium-sized display panels for Apple, carmakers and others rather than larger display screens as originally planned.

But Foxconn says its "product development and production plans for that campus remain unchanged."

The company also says it remains committed to creating 13,000 jobs at the southeastern Wisconsin facility and investing $10 billion. Doing that would send $4.5 billion in state and local incentives to Foxconn.


Foxconn's full statement:

We are aware of the report published by Nikkei Asian Review regarding our investment in Wisconsin. That report is inaccurate and is not based on any facts. Foxconn can categorically state that our commitment to create 13,000 jobs and to invest US$10 billion to build our state-of-the-art Wisconn Valley Science and Technology Park in Wisconsin remains unchanged. Foxconn is fully committed to this significant investment and to meeting all contractual obligations with the relevant government agencies.

In addition, our product development and production plans for that campus remain unchanged. Foxconn’s global investment strategy has always been guided by the overall business growth and development goals of our company as well as the needs of our customers. Against this backdrop, we are adopting a phased approach with the construction of facilities that will be part of our Wisconsin campus, to ensure that we continue to meet current and projected demand for advanced LCD panels. In the first phase of the project, we will be harnessing the latest generation advanced TFT-LCD manufacturing technology in our Wisconsin campus to produce LCD panels which will be used in a wide range of applications that impact consumers’ daily lives, from the latest generation televisions to self-driving cars, notebooks and monitors, and in the fields of education, entertainment, healthcare, advanced manufacturing systems, office automation, interactive retail, and safety, among many others.

The campus will also include facilities for back-end packaging of liquid crystal display modules, molding and tool and die processes involved in the production of high-precision housing and frames for display modules, and final assembly for end-products.

In addition to being a flag-bearer for advanced, intelligent manufacturing, Foxconn’s Wisconn Valley Science and Technology Park will also serve as the foundation for the robust AI 8K+5G ecosystem that Foxconn is building in Wisconsin and in the United States, and promote research and development in advanced industrial Internet technologies and next-generation hardware and solutions as part of that ecosystem.

We will announce more details on the Wisconn Valley Science and Technology Park in the coming months.
 

Copyright 2018 The Associated Press. All rights reserved.

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