Tuesday, July 5, 2016
American Industrial Systems Sells Majority Stake To Foxconn
Irvine-based American Industrial Systems, a provider of engineering services and products for the Interet-of-Things, oil and gas, industrial automation, and other markets, has sold a 60 percent stake of the company to Ennoconn. Financial terms of the sale were not announced. Ennoconn is a subsidiary of Taiwan's Foxconn Technology Group. Nelson Tsay is the founder and CEO of American Industrial Systems, which will become part of Foxconn's IPC Business Group. AIS was founded in 2005. Foxconn is a major, electronics contract manufacturer, and is known for being the manufacturing partner for Apple's iPhone--in addition to making thousands and thousands of other products for consumer electronics manufaturers.