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Presentation to Wistron GreenTech (Texas) Corporation
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MEETING DATE: December 4, 2012
DEPARTMENT: McKinney Economic Development Corporation
CONTACT: Abby Liu, Vice President, MEDC
RECOMMENDED CITY COUNCIL ACTION:
· No action needed.
ITEM SUMMARY:
· Mayor Loughmiller officially welcomes Wistron GreenTech (Texas) Corp. to be the new McKinney corporate citizen. Mayor Loughmiller will sign the welcome letter and show a brief PowerPoint presentation.
BACKGROUND INFORMATION:
· Wistron Corporation
Founded on May 30th, 2001, Wistron is an ODM (Original Design Manufacturer) providing a variety of services related to design, manufacturing and after sales service for information and communication technology (ICT) products. In 2010, Wistron launched its Green Recycling Business aiming to the recycling of electronic products. Business revenue in Wistron in 2011 was $21.7 billion US dollars. Wistron Corporation is one of the Fortune 500 companies and global headquarters is located in Taipei, Taiwan.
· Wistron GreenTech (Texas) Corporation
Wistron GreenTech was formed in 2010 as a wholly owned subsidiary of Wistron Corporation. It is part of the Wistron Green Recycling Business that also has a plastic recycling facility in Kunsan China. The US recycling campus being established in McKinney by Wistron GreenTech will include operations for I. T. asset recovery and the recycling & refining of circuit boards and batteries.
FINANCIAL SUMMARY:
· Capital Investment - Phase 1: US$14 Million in 2012/2013
Phase 2 : US$4 Million in 2014
Phase 3 : US$3 Million in 2015
BOARD OR COMMISSION RECOMMENDATION:
· N/A