GMBI changes name

JAKARTA (JP): Car maker PT General Motors Buana Indonesia (GMBI) has changed its name to PT General Motors Indonesia in the wake of the major change in the company's share ownership.

Company president William S. Botwick said on Thursday that the change was possible following last year's acquisition of all the company's shares by the United Stated-based General Motors.

He said that the change would not affect its commitment in Indonesia.

"We want to continue to participate actively in Indonesia's economic recovery and we want to maintain our position as one of the big players in Indonesia's automotive industry," he said.

In September 1997, General Motors, which previously owned 60 percent, bought the remaining 40 percent stake in GMBI from its local partner, Garmak Motor of the Mercu Buana Group.

Botwick said that the company's Opel Blazer had maintained its position as market leader in the Sport Utility Vehicle class despite the downturn in the country's automotive industry. (gis)