Asahimas forms trading arm

JAKARTA (JP): PT Asahimas Flat Glass Co. Ltd will set up a trading arm in Singapore to support the marketing of its glass products in Asia.

Asahimas, a major flat glass producer listed on the Jakarta Stock Exchange, announced yesterday that it plans to establish a trading company in cooperation with Glaverbel S.A., a Belgian glass manufacturer.

The trading company, to be named Glavermas Mirror Pte Ltd, will be the sole agent marketing Asahimas' mirror products in Asia and Australia, with the exception of Indonesia, the Middle East and Japan.

The joint venture, which will be equally owned by Asahimas and Glaverbel, will have a paid-up capital of approximately S$200,000. (hen)