Foxconn plans to leave Brazil

Foxconn factory in Shenzhen, Foxconn to shut down factory in Brazil — Foxconn factory in Shenzhen

Although the company pledged to invest $12 billion in Brazil and to create no less than 100,000 local jobs back in 2011, they failed to succeed in doing so. Now, insiders claim that Foxconn plans to stop its manufacturing activities in the country as well.

by Codrut Nistor, 2017/06/22

Business

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Back in 2011, Foxconn promised to create 100,000 jobs in Brazil within six years, also pledging to invest no less than $12 billion in the country. However, the company also required 30 percent of that sum from the Brazilian government, and to bring in a private investor as well. Sadly, both failed to materialize, and now Foxconn is close to shutting down its manufacturing facilities in Brazil for good.

According to the local press, the facility located in Jundiai is shutting down, and the machinery is being deactivated and sold. Another Foxconn facility in the area is already empty, and it seems that Foxconn will only keep a small set-up for parts replacement and maintenance.

When contacted by ZDNet, Foxconn declined to comment. However, insiders familiar with the matter confirmed that Foxconn is getting ready to shut down all its manufacturing operations in Brazil. On the other hand, they told the local press they have no plans to downsize.