Honda controls RI venture

Honda controls RI venture

TOKYO (AFP): Japan's Honda Motor Co. Ltd. has taken majority
control of its joint ventures in Indonesia and Peru as part of
its plan to expand operation overseas, a company spokesman said
Thursday.

The Japanese auto maker raised its stake in its Indonesian
motorcycle engine venture, PT Honda Astra Engine Manufacturing,
to 51 percent from 49 percent at the end of March, the spokesman
said.

Honda raised its stake following Indonesia's deregulation of
foreign investments, the spokesman said.

"The move is part of our plans to expand our operation
overseas and control our production system in other countries
more independently," the spokesman said.

In Peru, Honda raised its stake in its Peruvian motorcycle
production and sales venture, Honda del Peru SA, to 82 percent
from 49 percent to strengthen its motorcycle sales network in the
country, he said.