Furukawa strengthens SUCACO

Furukawa strengthens SUCACO

TOKYO (Reuter): Furukawa Electric Co Ltd said yesterday that
it would increase its stake in Indonesia's Supreme Cable
Manufacturing Corp (SUCACO) and that two of its executives would
join the company's board.

Furukawa said in a statement that it would boost its stake in
Indonesia's largest cable maker to 11.5 percent from 5.2 percent
at present.

"We have decided to join SUCACO's management by buying
additional shares in the company through our wholly owned
Singapore unit and by sending two of our officials to become
SUCACO board members, including its first vice president,"
Furukawa said.

Furukawa officials were not immediately available for comment
on the value of the share purchase.

Furukawa said it wanted to strengthen SUCACO's operations to
make it Furukawa's second wire and cable manufacturing base in
Southeast Asia, following Furukawa Electric Cables (Malaysia) Sdn
Bhd.

Furukawa wants to boost its wire and cable business in
Indonesia by linking SUCACO's operations with Furukawa's copper
wire unit PT Tembaga Mulia Semanan in Jakarta and aluminum wire
maker PT Supreme Alurodin, also in Jakarta, whose board includes
an official from Furukawa.

Furukawa also owns PT Asiabumi Furukawa in Jakarta, which lays
telecommunications cables.