Worldwide electronics leader Foxconn Technology Group violated terms of its contract in Wisconsin, while local governments spend hundreds of millions of dollars to prepare for the project, a lawsuit filed by a real estate development company alleges.
They say the electronics giant violated the terms of the agreement while local governments spent millions.
Feb 4th, 2021
iStock
MILWAUKEE (AP) Worldwide electronics leader Foxconn Technology Group violated terms of its contract in Wisconsin, while local governments spend hundreds of millions of dollars to prepare for the project, a lawsuit filed by a real estate development company alleges.
Hintz Real Estate Development Co. claims that Foxconn is in breach of its contract by failing to construct a Generation 10.5 LCD manufacturing facility in southeast Wisconsin not far from the Illinois border, the Milwaukee Journal Sentinel reported Wednesday.
Foxconn did not employ local workers in manufacturing and construction “to the extent agreed,” and failed to make capital investments in the county and village “to the extent agreed, the lawsuit filed Tuesday in Racine County Circuit Court said.
Developer sues Foxconn for contract breach
BROKEN PROMISE: Foxconn scaled down its LCD investment after local governments have invested hundreds of millions of US dollars to prepare for the plant, a lawsuit says
AP, MILWAUKEE, Wisconsin
Worldwide electronics leader Foxconn Technology Group (富士康科技集團) breached terms of its contract in Wisconsin, while local governments spent hundreds of millions of US dollars to prepare for the project, a lawsuit filed by a real-estate development company alleges.
Hintz Real Estate Development Co claims that Foxconn, known as Hon Hai Precision Industry Co (鴻海精密) in Taiwan, is in breach of its contract by failing to construct a 10.5G LCD manufacturing facility in southeast Wisconsin not far from the Illinois border, the Milwaukee Journal Sentinel reported on Wednesday.