Foxconn Technology Group HKG:2038 Under Pressure

The Fair Labor Association, a watchdog monitoring working conditions at makers of Apple Inc. (NASDAQ:AAPL) products, has uncovered “lots of issues” that need to be addressed at a Foxconn Technology Group plant in Shenzhen, China, FLA Chief Executive Officer Auret van Heerden said.

Van Heerden made the comments in a telephone interview after a multi-day inspection of the factory. Apple, the 1st technology company to join the FLA, said on 13 February that it asked the Washington-based nonprofit organization to inspect plants owned by 3 of its largest manufacturing partners.

“We are finding tons of issues,” van Heerden said en route to a meeting where FLA inspectors were scheduled to present preliminary findings to Foxconn management. “I believe we are going to see some very significant announcements in the near future.”

He declined to elaborate on the findings. The FLA plans to release more information about its inspection in the coming weeks. By then, the company will have had a chance to contest or agree to steps to prevent further violations.

Representatives of Foxconn did not respond to requests for comment.

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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Posted by Shayne Heffernan on Feb 18th, 2012and filed underBRIC, Latest News, Paul Ebeling.You can follow any responses to this entry through theRSS 2.0Responses are currently closed, but you can trackback from your own site.