Foxconn joint venture to invest $8.8 billion to build new LCD plant in China

Reuters News
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Posted: Dec 30, 2016 5:29 AM

BEIJING (Reuters) - A joint venture of Hon Hai Precision Industries <2354.TW>, known as Foxconn, and Sharp <6753.T> said on Friday it plans to invest 61 billion yuan ($8.8 billion) to build a new factory in China to produce liquid-crystal displays (LCDs).

Sakai Display Products Corp will build the factory in the southern Chinese city of Guangzhou.

(Reporting by Cate Cadell; Writing by Jake Spring; Editing by Muralikumar Anantharaman)