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TAIPEI - Hon Hai (TW:2317) Precision Industry Co. Ltd. announced Wednesday that its subsidiary, Ingrasys Technology Inc., has acquired right-of-use assets for factory space in Taoyuan City, Taiwan, valued at NT$657.5 million ($21.9 million).
The transaction involves leasing eight floors at No. 11, Hangxiang Road in Dayuan District. According to a company statement, the lease comprises two sections: Floors 1-4 measuring 4,803.41 ping (approximately 15,880 square meters) and Floors 5-8 measuring 5,042.76 ping (approximately 16,670 square meters).
Both sections will be leased at a monthly rate of NT$1,050 per ping. The total contract value, including rent and management fees, amounts to NT$691.5 million over the 60-month lease term.
The board of directors approved the transaction on June 30, with the official acquisition date recorded as July 2. The company stated the purpose of the lease is for "operational needs."
Zhonghua Asset Appraisal Co. provided valuation services for the transaction, appraising Floors 1-4 at NT$329.8 million and Floors 5-8 at NT$347.3 million.
The trading counterparty is Farglory Free Trade Zone Co., Ltd., which the company confirmed is not a related party to Hon Hai Precision Industry.
The transaction was conducted through price negotiation based on market rates, according to the press release statement.
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