Indomobil sets up venture

Indomobil sets up venture

JAKARTA (JP): PT Indomobil Investment Corporation signed a
joint venture agreement here yesterday with Fuji Univance Corp.
and Marubeni Auto Sales Corp., both of Japan, to set up a joint
venture company to produce automotive components.

The joint venture, to be called PT Univance Indonesia with an
investment of US$5 million, will be 75 percent owned by Fuji
Univance, 15 percent by Indomobil and 10 percent by Marubeni.

Indomobil's president, Subronto Laras, told reporters after
the signing ceremony that the joint venture will have an annual
capacity to produce 96,000 automotive transmission parts, 132,000
industrial machine transmission parts and 40,000 reduction gear
parts for industrial machinery.

Subronto said that the venture, which is scheduled to go into
commercial production next year, will export everything to Japan.
(08)