PT Indal ties up with Japan<\/p>\n
SURABAYA (JP): Publicly listed PT Indal Aluminum Industry,
\nthrough its subsidiary PT Indal Investindo, has set up two joint
\nventures with Japanese companies to manufacture car spare parts
\nin Gresik, East Java, and Bekasi, West Java.<\/p>\n
PT Indal Investindo signed a joint venture agreement here
\nyesterday with Furukawa Electric Co. Ltd., Toyota Tsusho Corp.,
\nand Itoh Seikoh Co. Ltd.<\/p>\n
\"We expect to contribute to increasing the local content of
\nlocally assembled cars,\" Indal's president Alim Markus said
\nyesterday.<\/p>\n
Alim said the new joint venture company, called PT Furukawa
\nIndal, would invest US$7 million in a plant in Gresik to produce
\naluminum condensers and evaporators for automobile air
\nconditioners.<\/p>\n
The plant project within the Maspion industrial area in Gresik
\nis scheduled to start commercial production in the second half of
\nnext year.<\/p>\n
It will be able to produce 3,000 tons of condensers and
\nevaporators a year, he said.<\/p>\n
The company plans to export 60 percent of its products to
\nother Southeast Asian countries and sell the remaining 40 percent
\ndomestically, he said.<\/p>\n
PT Furukawa Indal is 40 percent owned by PT Indal Investindo,
\n55 percent by the Furukawa Electric and 5 percent by Toyota
\nTsusho.<\/p>\n
PT Indal also agreed yesterday to tie up with Itoh Seikoh and
\nToyota Tsusho in a joint venture, named PT Alim and Itoh
\nCorporation.<\/p>\n
The joint venture, with an investment of US$2 million, will be
\n45 percent owned by PT Indal Investindo, 50 percent by Itoh
\nSeikoh, and 5 percent by Toyota Tsusho.<\/p>\n
The company plans to build a plant to produce about 1.5
\nmillion pieces of automotive spare parts a year, Alim said.<\/p>\n
The plant will be built in Bekasi, West Java, and will start
\ncommercial production in the second semester of next year, he
\nsaid.<\/p>\n
About 30 percent of the products will be exported and 70
\npercent will be sold locally, he added. (das)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pt-indal-ties-up-with-japan-1447893297",
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