Crescent Dune Acquires Lordstown Manufacturing Facility for $88mln from Hon Hai Precision

Crescent Dune LLC acquired a manufacturing facility in Lordstown, Ohio from Hon Hai Precision Industry Co. for $88 million. The acquisition was completed on August 4, 2025. In a related transaction, Crescent Dune also acquired machinery and equipment from Hon Hai Precision Industry Co. for $287 million.

Crescent Dune LLC has completed the acquisition of a manufacturing facility in Lordstown, Ohio from Hon Hai Precision Industry Co. (Foxconn) for a combined total of $375 million. The transaction includes the sale of the manufacturing plant and associated equipment for $88 million, and machinery and equipment for $287 million. The acquisition was finalized on August 4, 2025.

Hon Hai, which previously used the facility for electric vehicle (EV) manufacturing, has shifted its focus to assembling AI servers at the site. The Taiwanese company continues to occupy the complex and plans to use it for its own AI server manufacturing business. The proceeds from the Ohio deal will be re-invested in the United States.

The acquisition is part of a broader trend of Taiwanese companies like Hon Hai expanding their AI server assembly operations in the US, driven by significant investments from major US tech firms. Nvidia, for instance, has outlined plans to produce as much as half a trillion dollars' worth of AI infrastructure in the US over the next few years through manufacturing partners including Foxconn.

The Lordstown facility was originally acquired by Hon Hai from Lordstown Motors Corp. in 2022. However, the EV efforts there have since faltered, leading to the shift in focus to AI server manufacturing. The acquisition by Crescent Dune LLC is seen as an opportunity for asset revitalization and optimization of the site's product portfolio and operational performance.

References:
[1] https://www.bloomberg.com/news/articles/2025-08-04/nvidia-partner-hon-hai-to-expand-ai-server-assembly-in-the-us
[2] https://www.investing.com/news/company-news/hon-hai-precision-industry-sells-ohio-ev-factory-for-375-million-93CH-4167249
[3] https://www.investing.com/news/company-news/foxconn-subsidiaries-sell-ohio-facility-for-375-million-93CH-4167405
[4] https://theedgemalaysia.com/node/765226