Goodyear to boost exports

JAKARTA (JP): Publicly listed automotive tire producer PT Goodyear Indonesia is set to boost its exports to offset the declining demand in the domestic market, an executive says.

The company's president, Christopher Wells Clark, said yesterday that the country's economic crisis had forced the company to switch its focus to overseas markets.

"We expect the overseas market to contribute more than 50 percent of our sales this year," he said, adding that the new overseas market would include some European countries and the United States.

At present, the company exports its product only to Japan.

He, however, declined to disclose the company's sales and profit projection this year.

Clark said the company, which recorded a 50.24 percent decline in net profit to Rp 5.34 billion in 1997 from Rp 10.73 billion in 1996, expected to see poor earnings this year due to the country's persistent economic catastrophe.

"With the economic situation expected to worsen in the coming months, we cannot give any projection," he said. (aly)