Foxconn Technology Group’s new $100 million factory in central Henan province began production on Monday, as the Taiwan electronics maker moves its facilities to inland China. More than 500 employees were on the production line of the workshop – owned by Foxconn’s subsidiary, Futaihua Precision Electronics – which the company has temporarily rented from the [...]
China’s Purchasing Managers’ Index (PMI) fell to 51.2 from 52.1 in July, expanding at the slowest pace in 17 months amid government restrictions on property speculation and investment in polluting factories. A PMI reading above 50 reflects an expansion. “The Chinese economy is slowing down mainly due to the ongoing property tightening measures,” said Lu [...]
CL Huang, vice president of Hon Hai Precision Industry, said that the firm plans to raise prices for consumers in part to cover the increased cost of labor at its China manufacturing facilities. Hon Hai is the parent company of Foxconn Technology Group, the embattled technology manufacturer that more than doubled worker pay at its [...]
Corning announced on Wednesday that it will invest $800 million in a liquid crystal display (LCD) production facility in Beijing, expanding its current capacity. The company makes LCD glass and fiber optics for use in electronic displays such as computers and televisions. Corning predicted demand for its LCD glass would come in at the high end of [...]
The US is poised to lose its 110-year run as the world’s biggest manufacturing country by output in 2011 to China – though it still claimed the top spot last year – according to IHS Global Insight figures released on Monday. The US created 19.9% of world manufacturing output last year, compared with 18.6% in [...]
Strikes in Chinese factories have now spread to three Japanese-owned and three Taiwan-owned facilities in the wake of successful action at a Honda plant in Guangdong province last week. Workers at Honda Lock in Zhongshan, which makes car locks and key sets, are into the second day of their strike after rejecting an offer of [...]
Manufacturing growth in China and other Asian economies slowed in May. Beijing’s official purchasing managers index (PMI) fell to 53.9 in May from 55.7 in April as credit tightening policies appeared to take hold. A similar index produced by HSBC also showed a slowdown in growth, from 52.7 down from 55.2 in April. Manufacturing growth in [...]
Taiwan-based electronics manufacturer Hon Hai Precision Industry, the parent of Foxconn, announced last Friday that it will increase worker wages by 20%. Foxconn’s public image has taken a beating due a spate of suicides at the company’s Shenzhen plant. Another employee attempted to slit his wrists on Thursday, but state media reported that he survived [...]
Liquid Crystal Display (LCD) device manufacturers expressed optimism based on robust quarterly profit forecasts driven by Chinese demand for LCD products. After a year of relatively flat spending, Chinese consumers are shopping again for computer screens, flat-screen TVs and other gadgets. “The sector’s recovery is ongoing and the positive business trend will continue until the [...]
The State Council has issued a policy statement calling for more rapid closures of old and inefficient factories and power plants. In the third such statement since October, the State Council gave specific targets for plant closures in the electricity, coal, coke, ferro-alloy, calcium carbide, steel, non-ferrous metal, construction materials, paper, ethanol, tannery and textiles [...]
