Taiwanese technology giant Hon Hai said Friday it has acquired a piece
of land in Brazil for $12.6 million as part of its plans to expand its
operation in the South American country.
Hon Hai's subsidiary Foxconn
CMMSG Industria de Electronicos Ltda bought the 1.42
million-square-meter (350-acre) site from Toulouse Incorporacao SPE
LTDA, it said in a statement without elaborating.
Hon Hai, also
known internationally as Foxconn, is the world's largest maker of
computer components and assembles products for Apple, Sony and Nokia.
company has said that it planned to invest $492 million to build a new
facility in Sao Paulo, Brazil to produce smartphones, tablets and other
The company has been working in Brazil since 2003, and already operates four factories in Latin America's biggest economy.
breaks offered by the Brazilian government as well as proximity to
fast-growing local markets have made Brazil an attractive alternative
for manufacturing operations to China, it has said.