No deal signed with Texmaco: Renault<\/p>\n
PARIS (Reuter): Renault SA's truck-making arm, Renault V.I.,
\nsaid yesterday that it was in talks with Indonesia's Texmaco
\ngroup but had not signed any agreement for the establishment of a
\njoint venture.<\/p>\n
On Saturday the Press Trust of India (PTI) reported that
\nRenault and Texmaco would form a venture to manufacture trucks in
\nthe southern Indian state of Tamil Nadu.<\/p>\n
\"Renault VI has always expressed interest in establishing a
\npresence in the Indian market with a local partner and continues
\nits efforts in this line. Contacts have been established with the
\nTexmaco group but they are at a preliminary stage and no accord
\nhas been signed between Renault and Texmaco,\" the French company
\nsaid in a statement.<\/p>\n
\"No joint venture has been created,\" it added.<\/p>\n
The PTI said the venture would produce trucks with a capacity
\nof more than 16 tons and luxury buses. Forty percent of the
\nproduction, expected to begin in the year 2000, would be
\nexported, it said.<\/p>\n
Production at Renault's Vilvoorde plant, whose closure was at
\nthe center of a political storm earlier this year, will cease
\ndefinitively by next week, union officials said Monday.<\/p>\n
Some 250 volunteers from the plant's 3,100 workforce yesterday
\nbegan finishing work on some 600 cars left on the assembly line.
\nWhen they are completed, either by the end of this week or early
\nnext, Vilvoorde's doors will close for ever.<\/p>\n
Despite a massive outcry over its surprise decision to shut
\ndown the plant, Renault refused to reverse its ruling and workers
\nat Vilvoorde finally accepted their fate in July by voting in
\nfavor of the company's redundancy terms.<\/p>\n
Renault was severely criticized in both Belgium and France for
\nfailing to negotiate with unions over the plant's future at a
\ntime of enormous public concern over high unemployment levels.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/no-deal-signed-with-texmaco-renault-1447893297",
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