Furukawa strengthens SUCACO<\/p>\n
TOKYO (Reuter): Furukawa Electric Co Ltd said yesterday that
\nit would increase its stake in Indonesia's Supreme Cable
\nManufacturing Corp (SUCACO) and that two of its executives would
\njoin the company's board.<\/p>\n
Furukawa said in a statement that it would boost its stake in
\nIndonesia's largest cable maker to 11.5 percent from 5.2 percent
\nat present.<\/p>\n
\"We have decided to join SUCACO's management by buying
\nadditional shares in the company through our wholly owned
\nSingapore unit and by sending two of our officials to become
\nSUCACO board members, including its first vice president,\"
\nFurukawa said.<\/p>\n
Furukawa officials were not immediately available for comment
\non the value of the share purchase.<\/p>\n
Furukawa said it wanted to strengthen SUCACO's operations to
\nmake it Furukawa's second wire and cable manufacturing base in
\nSoutheast Asia, following Furukawa Electric Cables (Malaysia) Sdn
\nBhd.<\/p>\n
Furukawa wants to boost its wire and cable business in
\nIndonesia by linking SUCACO's operations with Furukawa's copper
\nwire unit PT Tembaga Mulia Semanan in Jakarta and aluminum wire
\nmaker PT Supreme Alurodin, also in Jakarta, whose board includes
\nan official from Furukawa.<\/p>\n
Furukawa also owns PT Asiabumi Furukawa in Jakarta, which lays
\ntelecommunications cables.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/furukawa-strengthens-sucaco-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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