ASSAB opens RI venture

JAKARTA (JP): Swedish steel tool distributor ASSAB Pacific Pte. Ltd. inaugurated on Friday its joint venture with publicly listed local partner PT Tira Austenite.

Cameron MacLean, the president of new joint venture PT ASSAB Austenite Indonesia, said the company was established to ensure that Indonesian manufacturers would have full access to Swedish- made steel and professional services provided by them.

Also inaugurated on Friday was the company's new office and warehouse site at the Pulogadung Industrial Estate in East Jakarta.

ASSAB Pacific Pte. Ltd. is a fully owned subsidiary of Swedish ERP processes and powder metal technology manufacturer Uddenholm Tooling AB, the products of which have been sold for 24 years here through sole agent Tira Austenite. (cst)