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iPhone maker Foxconn buys 350 more acres of land in Brazil

Foxconn Brazil Expansion

Foxconn has big plans for Brazil and the manufacturing giant just took another step toward realizing them. Parent company Hon Hai on Friday announced that subsidiary Foxconn CMMSG Industria de Electronicos has purchased more land in Brazil, AFP reports. The transaction with Toulouse Incorporacao will see Foxconn gain approximately 350 acres and it will cost the company $12.64 million. Foxconn said previously that it planned to invest $492 million in a new facility in Sao Paulo, and it currently runs four other factories in Brazil.

Zach Epstein

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content.

Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment. His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.