Bakrie, Jibuhin sign deal

Bakrie, Jibuhin sign deal

JAKARTA (JP): PT Bakrie Tosanjaya (BT), an automotive component producer, signed over the weekend a memorandum of understanding with Jidosha Buhin Kogyo (Jibuhin) of Japan to establish a joint venture to manufacture engine components.

Bakrie Tosanjaya announced that the initial shareholding composition will be 40 percent for the company and 60 percent for Jibuhin, which is a subsidiary of the Isuzu Group.

Bakrie Tosanjaya is a subsidiary of PT Bakrie & Brothers.

The planned joint venture will begin early next year. The initial production of ring gears will have a capacity of 600,000 units a year.

Bakrie & Brothers focuses its business on infrastructure support, telecommunications and plantations. (13)