iPhone Manufacturer Foxconn Invests In Automation Equipment

TAIPEI, Taiwan (AP) — Foxconn Technology Group says it is building a multimillion-dollar manufacturing complex in central Taiwan to produce factory automation equipment.

The company said Saturday that the new facilities in Taichung will also produce robots providing medical care. It says production is set to begin in two years.

Taiwan-based Foxconn is the world's largest contract electronics manufacturer, producing iPhones, iPads and other electronic gadgets from its massive manufacturing complex in China.

The company has sought to diversify in recent years as it faces rising labor costs and shrinking profit margins in the wake of slowing computer sales.