Taiwan's Inventec to invest up to $85 million in US to lessen tariff impact

TAIPEI (Reuters) -Taiwanese contract electronics manufacturer Inventec has agreed to invest up to $85 million to build manufacturing facilities in Texas to help mitigate the impact of U.S. tariffs, it said on Monday. In a statement to the Taiwan stock exchange, the company said that its U.S. subsidiary would look for "suitable production" plants in the southwestern U.S. state. The plan has been agreed upon by the board to "meet customer shipment location requirements, actively pursue new customers and markets, and mitigate the impact of fluctuations in U.S. tariff policies," the company said in its short statement.