Indomobil, Indomulti merge

Indomobil, Indomulti merge

JAKARTA (JP): Two companies in the widely diversified Salim
Group, PT Indomobil and PT Indomulti, will be merged in group's
restructuring program.

Indomulti president Fransiscus Welirang said Saturday the
group would create a firm called PT Indomobil Sukses
International to manage and operate the merged units.

He said the merger plan still needed independent shareholder
approval.

Indomobil president Soebronto Laras said the merger would
create a better public image.

Soebronto also said Indomobil was still preparing to list on
the local stock exchanges.

"The company which booked profit in the last three consecutive
years has met the requirements to go public," he said.

Indomobil is the licensed distributor of Suzuki, Nissan, Volvo
VW, Audi and Mazda in Indonesia. (aly)