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Inventec's US Arm to Acquire Texas Factory; Shares Down 8%

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Inventec's (TPE:2356) US-based subsidiary, Inventec (USA), will acquire an additional factory building and expansion of power engineering projects in Texas, according to a Tuesday filing with the Taiwan Exchange.

The electronics manufacturer's unit will acquire a factory building which comprises land of around 1.5 million square feet and buildings of around 236,986 square feet worth $58 million.

The power engineering projects carry a value of $48.6 million.

The acquisitions will support the company's long-term business expansion and enhanced plant power needs.

Shares of the company were down nearly 8% in Tuesday trading.

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