Foxconn’s Singapore-based subsidiary to invest $18 mln in Vietnam
Ingrasys (Singapore) Pte. Ltd., a subsidiary of Foxconn, will invest $17.96 million in Vietnam-based Fulian Precision Technology Component Company Limited.
In a Monday filing with the Taiwan Stock Exchange (TWSE), Foxconn said that Ingrasys will acquire shares in Fulian Precision Technology Component as a “long-term investment.”
The giant added that “cash investment is not applied” to the case. With the move, the cumulative monetary amount of shares held by Foxconn in the subsidiary would go up to $217.96 million.
Fulian Precision Technology Component factory in Bac Giang province, northern Vietnam. Photo courtesy of Markettimes magazine.
Founded in 2002, Ingrasys is a supplier of Nvidia and known for cloud computing solutions, such as designing and developing servers, storage, AI accelerators, and cooling solutions.
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 in Bac Giang province’s Quang Chau Industrial Park.
In July 2024, Ingrasys (Singapore) Pte. Ltd. received an adjusted investment registration certificate for a $621 million project in Bac Giang. The project is implemented by Fulian Precision Technology Component, targeting operation in the first quarter of 2026.
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