Indomobil to make ACs<\/p>\n
JAKARTA (JP): Indomobil Investment Corporation, Anugerah
\nIdealestari and Japanese firms Zexel Corporation and Itochu
\nCorporation agreed here yesterday to establish a joint venture to
\nproduce automotive air conditioners.<\/p>\n
President of Indomobil Group Soebronto Laras said the joint
\nventure, to be named Zexel AC Indonesia, would invest around
\nUS$10 million in the plant.<\/p>\n
Zexel Corporation will have a 40 percent stake in the joint
\nventure, while the other three partners will each own 20 percent.<\/p>\n
\"Zexel AC is estimated to start commercial production in April
\n1997 and is set to produce 80,000 cooling units for AS system and
\n60,000 automotive AC systems a year,\" Soebronto said after the
\nsigning of the agreement for the establishment of the joint
\nventure.<\/p>\n
He said that in the first two years, all air-conditioning
\nsystems and components to be produced by the joint venture would
\nbe sold domestically. \"We will start export activities in the
\nthird year,\" he added.<\/p>\n
Soebronto said the prospect for automotive air-conditioning
\nfacilities in the local market is very promising, given the
\ncontinued increase in car demand.<\/p>\n
Next year, domestic car production is expected to rise 40,000
\nvehicles to reach 360,000 vehicles from this year's total
\nproduction of 320,000 units, he said.<\/p>\n
The increase in car production would certainly push up the
\ndemand for car air conditioners. (04)<\/p>",
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"sponsor": "Okusi Associates",
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