" 'The Mexico [Tijuana/Baja] site is Sony’s main TV production base, and selling that suggests the company may be selling other smaller sites.'
— Kota Ezawa, Citigroup analyst" [Citigroup is an ASARCO principle bondholder, and Foxconn has become the anchor-maquiladora for the new international city being built within the toxic-shadow of the El Paso ASARCO smelter]
"Hon Hai, the world’s largest contract maker of electronics, gained 6.8 percent to close at NT$118.5 on the Taipei Stock Exchange, the highest level since Aug. 29 last year. The company on Monday posted its first profit increase in five quarters, beating analysts’ estimates. Second-quarter net income rose 27 percent to NT$15.1 billion (US$460 million) from a year earlier."
[both Grupo Mexico and Hon Hai are showing recent record profits. Meanwhile, the community of El Paso Texas gets @52 million to "remediate" 110 years of Asarco's legal and illegal incineration activities -- many of the remaining contamination has NOT BEEN DISCLOSED. The EPA has documentation saying that contamination is in our Rio Grande, the Hueco bolson, our soils and redistributed through our airshed.]
http://www.taipeitimes.com/News/biz/archives/2009/09/02/2003452602
Wednesday, September 2, 2009
FNS News: Sony Outsources Border Factory [to Foxconn in Tijuana] ASARCO Bondholder Citigroup Inc. analyst comments
"Tijuana News September 2, 2009 Sony Outsources Border Plant
Battered by multi-billion dollar losses, Sony Corp. ...announced this week it will sell a 90 percent interest in a [Tijuana/Baja] factory that manufactures LCD television screens to Hon Hai Precision Industry Co.of Taiwan ...[it] will be managed by Hon Hai’s Foxconn division.
Foxconn, however, is among many electronics manufacturers that routinely outsource jobs to temporary employment agencies which don’t pay the full range of benefits....In addition to Tijuana, Foxconn is currently expanding production activities in Ciudad Juarez, Chihuahua....
Sources: Frontera, September 1, 2009. Los Angeles Times/Associated Press, September 1, 2009. Juarez-El Paso Now, August 2009. Cereal report, October 2007. Frontera NorteSur (FNS): on-line, U.S.-Mexico border news Center for Latin American and Border Studies New Mexico State University Las Cruces,New Mexico"
see also http://www.taipeitimes.com/News/biz/archives/2009/09/02/2003452602
"Hon Hai Precision Industry Co (鴻海精密) will buy the stake in a liquid-crystal-display TV unit based in Tijuana, Mexico, and the unit’s manufacturing assets...The sale signals that Sony — which is cutting 16,000 jobs and has shut eight factories to revive its profitability as it heads into its first consecutive annual losses since its listing in 1958 — may eventually stop making TVs, said Kota Ezawa, an analyst at Citigroup Inc in Tokyo."
Battered by multi-billion dollar losses, Sony Corp. ...announced this week it will sell a 90 percent interest in a [Tijuana/Baja] factory that manufactures LCD television screens to Hon Hai Precision Industry Co.of Taiwan ...[it] will be managed by Hon Hai’s Foxconn division.
Foxconn, however, is among many electronics manufacturers that routinely outsource jobs to temporary employment agencies which don’t pay the full range of benefits....In addition to Tijuana, Foxconn is currently expanding production activities in Ciudad Juarez, Chihuahua....
Sources: Frontera, September 1, 2009. Los Angeles Times/Associated Press, September 1, 2009. Juarez-El Paso Now, August 2009. Cereal report, October 2007. Frontera NorteSur (FNS): on-line, U.S.-Mexico border news Center for Latin American and Border Studies New Mexico State University Las Cruces,New Mexico"
see also http://www.taipeitimes.com/News/biz/archives/2009/09/02/2003452602
"Hon Hai Precision Industry Co (鴻海精密) will buy the stake in a liquid-crystal-display TV unit based in Tijuana, Mexico, and the unit’s manufacturing assets...The sale signals that Sony — which is cutting 16,000 jobs and has shut eight factories to revive its profitability as it heads into its first consecutive annual losses since its listing in 1958 — may eventually stop making TVs, said Kota Ezawa, an analyst at Citigroup Inc in Tokyo."
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