American giant to expand business in Indonesia

JAKARTA (JP): General Electric of the United States plans to expand its business in Indonesia after establishing several joint venture companies in the country.

The president of General Electric Teknologi Indonesia (GETI), John L. Oliver, said yesterday that in addition to the planned establishment of a railway locomotive manufacturing plant in Madiun, East Java, General Electric will also enter aerospace and information technology businesses.

GETI is one of General Electric's subsidiaries in Indonesia. The other is General Electric Indonesia.

He refused to give further details about the planned expansion.

The planned railway locomotives manufacturing plant will be 35 percent owned by the state-owned railway equipment manufacturer PT Inka, while GETI and General Electric will own 32.5 percent each, he said.

President of General Electric Indonesia, Stuart L. Dean, said that General Electric completed in June the acquisition of a 35 percent stake in PT General Electric Angkasa Lighting, a lamp manufacturer in Surabaya, East Java.

General Electric Angkasa, set up with an investment of US$20 million in June 1994, was previously 65 percent owned by General Electric and 35 percent by Sinar Angkasa Rungkut. (icn)