Apple supplier, Foxlink of Taiwan, is setting up a new factory in Oragadam, close to Chennai. This move comes as part of a fresh expansion plan following a destructive fire at their facility in Tirupati, Andhra Pradesh, last year.
Foxconn said it is making an announcement on behalf of subsidiary Foxconn Hon Hai Technology India Mega Development Pvt Ltd for engaging others to build the plant on owned land.
Josh Foulger, the country head of Foxconn’s Bharat FIH arm, is leaving the company after nine years, people familiar with the matter said. His last day will be this month, they said, asking not to be named as the matter is private. His plans going forward couldn’t immediately be learned.
Foxconn Singapore has acquired about 46,08,76,736 shares at Rs 10 each, amounting to around USD 55.29 million (Rs 460.87 crore), according to the filing.