Djajanti buys fishing firm

JAKARTA (JP): The Djajanti Group has taken over PT MTI, a large foreign fishing joint venture in Biak, Irian Jaya, that had stopped operation and dismissed its employees, an official said yesterday.

The head of Biak's manpower office, Samuel Pademme, was quoted by Antara as saying in Biak that the Djajanti Group would pay Rp 1.3 billion (US$534,759) in dismissal compensation for 698 ex- employees of PT MTI, which used to operate Irian Jaya's first tuna canning factory.

MTI, which started in 1992, dismissed its employees at the end of 1995 after mismanagement problems. (13)