Goodyear to boost exports

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)