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Taiwan's Foxconn to list connector unit earlier than stated -WSJ
February 18, 2014 / 6:16 AM / 4 years ago

Taiwan's Foxconn to list connector unit earlier than stated -WSJ

TAIPEI, Feb 18 (Reuters) - Hon Hai Precision Industry Co Ltd , the Apple Inc products maker trading under the name Foxconn, will list its industrial cable and connector unit on the Taiwan exchange next year, earlier than initially stated, the Wall Street Journal reported on Tuesday.

Hon Hai founder and chairman Terry Gou in June said the company would spin off Foxconn Interconnect Technology (FIT) and that its initial public offering would take place three years later.

The unit plans to invest in overseas operations, including a factory in Pennsylvania, and expand into the automotive industry, the Journal cited the unit’s chief executive, Sidney Lu, as saying.

The company last month said it is building factories in the U.S. and Indonesia to diversify away from its ‘made in China’ model.

Foxconn representatives were not immediately available for comment. (Reporting by Michael Gold; Editing by Christopher Cushing)

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