China-based tech company Foxconn announced in 2011 that it would create 100,000 jobs in Brazil within six years and invest 12 billion in the country, but they failed to do that. On top of that, they expected from Brazilian government to come up with 30 percent of that sum and bring other private investors.
Since none of that materialized, the company is now forced to exit the country is close its manufacturing facilities in Brazil for good. According to local press, the facility located in Jundiai is shutting down, and the machinery is being deactivated and sold, while another Foxconn facility in the area is already empty. |