Foxconn unit Fulian to invest additional $120 mln in northern Vietnam
Fulian Precision Technology Component Co., Ltd, an affiliated enterprise of Foxconn based in Bac Giang, plans to spend another $119.6 million on leasing land and/or building facilities in the province.
In a Tuesday filing with the Taiwan Stock Exchange (TWSE), Foxconn said the move aimed to serve operational needs, adding that “a supplemental announcement will be made after transaction is confirmed.”
Fulian Precision Technology Component factory in Bac Giang province, northern Vietnam. Photo courtesy of the firm.
Taiwan-based Foxconn, a key Apple supplier, established Fulian Precision Technology Component in January 2023 with a registered capital of $200 million. The firm is located Bac Giang’s Quang Chau Industrial Park.
Fulian Precision Technology Component manufactures electronic components, motherboards, computers and computer peripherals, servers and server chassis, communication equipment, network cards, network switches, digital TV receivers, graphics cards, memory and security products.
As of end 2023, Fulian Precision Technology Component’s total assets were valued at $259.7 million. It recorded an operating income of zero and post-tax profit of $3.42 million last year.
The Taiwan-headquartered firm has invested around $4 billion in five provinces in Vietnam, employing some 80,000 people, Brand Cheng, chairman and CEO of Foxconn, informed Vietnamese Prime Minister Pham Minh Chinh last month.
Foxconn’s most recent investment in Vietnam was announced in June, with its subsidiary, Foxconn Singapore Pte Ltd., set to invest $383.3 million in a new project to manufacture printed circuit boards (PCB) in the northern province of Bac Ninh.
The plant will have an annual capacity of 2.79 million items, equivalent to 2,989 tons. Foxconn said it planned to complete administrative procedures in the first quarter of 2025, build the factory from Q1/2025 to Q1/2026, install machines and conduct trial production from Q1/2026-Q3/2026, and start official operations in Q3/2026.
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