Taipei-Taiwan-based manufacturing giant Hon Hai Precision Industry Co. (??) is planning to boost its investment in Czech Republic, according to the country's English-language Prague Daily Monitor.
The online newspaper cited a report from Czech Republic-based CIA News as saying that Hon Hai, known as Foxconn in the global market, is expected to invest billions of Czech krone (one krone equals US$0.046 or NT$1.37 at current conversion rates) in the East European country by the end of 2018.
The report said that the planned investment will be aimed at rolling out medical care products to penetrate the booming Czech market, as well as the U.S. market. The report did not specify the exact investment amount.
Currently, Hon Hai operates Czech production sites in Pardubice and Kutna Hora, employing a workforce of about 4,000.
The Hon Hai operations include a research and development center and automated production lines assembling a wide range of products, including cellphones and cloud technology-based devices.
The report said that Hon Hai is likely to invest further in Czech Republic in employee recruitment and will also assign funds to meet other personnel costs in its production lines in the country.
Media in Taiwan said Tuesday that Hon Hai Chairman Terry Gou (???) flew his private jet to Czech Republic on Aug. 21 and returned to Taipei Monday.
Meanwhile, the Czech media said that Hon Hai, the world's largest contract electronics maker, has secured orders from California-headquartered Inogen Inc. to ship portable oxygen concentrators for people with breathing problems, starting from October.
The U.S. firm specializes in developing oxygen therapy technology, providing lightweight and travel-approved portable oxygen concentrators and peripheral products.
Hon Hai secured orders from Inogen through its enterprise information system division, which focuses on a variety of products, including PC and PC peripherals, industrial computers, point-of- service systems, automated teller machines, industrial automation, automotive systems, e-commerce and software development.
The division has now also entered the arena of medical care product development. The report said that a project team of the division visited Inogen's headquarters before securing orders from the U.S. firm.
According to the report, Hon Hai generated approximately US$5.42 million in Czech Republic in 2016.
The Czech media said that Hon Hai served as the country's second-largest exporter.
Source: Focus Taiwan News Channel