Hyundai sells plant to RI

Hyundai sells plant to RI

SEOUL (AFP): South Korea's Hyundai Precision and Industry Co.
has signed a US$10.3-million contract to export a steel wheel
plant to an Indonesian auto firm, a company spokesman said
yesterday.

Under the turn-key deal, Hyundai will provide PT Auto Korindo
Pratama Co. with finished and semi-finished production equipment
for the plant, which will have an annual production capacity of
240,000 bus and truck wheels.

The company said it will also reap royalties from the plant's
products for the first three operational years, but declined
comment on the royalty percentage.