German firm sees long-term prospects in RI<\/p>\n
JAKARTA (JP): German steel company Ferrostaal AG reported on
\nTuesday an 80 percent decrease in its revenue in Indonesia last
\nyear to DM50 million (US$28 million) in 1998, due to the sluggish
\ndomestic market.<\/p>\n
\"We have to make up our loss in Indonesia with our business in
\nother countries,\" Chairman of Forrestaal Klaus von Menges told a
\npress conference on Tuesday at the German technology fair
\nTECHNOGERMA '99.<\/p>\n
However, Menges said that Ferrostaal still sees long-term
\nbusiness prospects in Indonesia. He predicted Indonesia's economy
\nwould recover in two to three years' time.<\/p>\n
Ferrostaal has for a long time worked in cooperation with the
\nIndonesian steel and shipbuilding industry.<\/p>\n
Ferrostaal was involved in state-owned PT Krakatau Steel's
\nturnkey project to build a sponge iron plant between 1990 and
\n1994.<\/p>\n
Other Ferrostaal projects in the 90s included a railway
\nrehabilitation undertaking in West Sumatra for state railway
\ncompany Perumka, numerous container vessel transport facilities
\nfor state shipbuilder PT PAL and a few projects with private
\nIndonesian companies.<\/p>\n
Ferrostaal also has interests in a number of joint-venture
\ncompanies: PT Samudra Ferro Engineering, focusing on management
\nconsultancy, PT Prinpak Perdana, involved in after sales service
\nand maintenance for manufacturing industries, power generation
\ncompany PT MAN Pindad, and PT Kahardjaja, working in the printing
\nindustry.<\/p>\n
Ferrostaal is one of the 194 exhibitors at the German trade
\nand technology fair called TECHNOGERMA Jakarta '99, being held
\nfrom March 1 to March 7 at the Jakarta Convention Center.<\/p>\n
The exhibition is organized by the German Federal Ministry of
\nEconomics, which is financing the event, as well as the
\nExhibition and Trade Fair Committee of the German Trade and
\nIndustrial Association, with the support of the German-Indonesian
\nChamber of Industry and Commerce in Jakarta. (02)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/german-firm-sees-long-term-prospects-in-ri-1447893297",
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"sponsor": "Okusi Associates",
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