Phenolic resin firm set up<\/p>\n
TOKYO (AFP): Japan's Sumitomo Bakelite Co. Ltd. will set up a
\njoint venture in Indonesia in December to produce phenolic resin
\nfor sale in Southeast Asia, a spokesman said yesterday.<\/p>\n
PT Indopherin Jaya, capitalized at US$2.4 million, will be
\nowned 45 percent by Sumitomo Durez Co., a subsidiary of the
\nJapanese synthetic resins, and 25 percent by PT Prospect Motor,
\nan Indonesian automaker.<\/p>\n
PT Pamolite Adhesive Industry of Indonesia and Japanese trader
\nKanematsu Corp. will hold 15 percent each.<\/p>\n
The new company, based in Jakarta, will invest about 550
\nmillion yen ($5.5 million) to build a plant in Probolinggo, the
\nspokesman said.<\/p>\n
It will start production of the resin, used for electrical
\nproducts and cars, in October next year, targeting sales of 400
\nmillion yen in the first year. The company hopes to boost sales
\nto 600 million yen in the second year and 800 million yen in the
\nthird year.<\/p>\n
About 4,000 tons of the product will be sold in Indonesia
\nannually, and 2,200 tons will be exported to Malaysia and 3,600
\ntons to Thailand, the spokesman said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/phenolic-resin-firm-set-up-1447893297",
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