Apple supplier Foxlink seeks to resume production after fire at India facility

Apple supplier Foxlink seeks to resume production after fire at India facility

Tech News

Taiwanese Apple supplier Foxlink announced on Wednesday that it is making efforts to resume production after a fire broke out at one of its plants in southern India, causing the suspension of operations at the facility that produces iPhone charging cables.

The factory is located in the Chittoor district of India’s Andhra Pradesh state and is unlikely to resume full operations for two months, raising supply chain concerns for the U.S. tech giant, Reuters reported this week.

Foxlink was engulfed in a massive fire on Monday that led part of the building to collapse, but there were no casualties. The company said in a statement to the Taiwan stock exchange, that it is investigating the cause of the fire and “working hard to resume production”.

In an earlier statement late on Tuesday, the company said that the site had been blocked off by the fire department and that four production lines were known to be damaged.

As the plant, equipment and inventory are covered by insurance, the fire has not yet had a significant impact on the company’s finances and business, it added.

The company will coordinate with customers and suppliers to “discuss solutions for the production capacity affected before resuming work”.

Moreover, the company’s stock was down more than two per cent in early morning trade Wednesday, compared to a 0.5 per cent fall for the broader market.

(With inputs from Reuters)

Catch all the Technology News and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.


Source link

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments