Lautan to form 2 ventures

JAKARTA (JP): Specialty chemicals manufacturer and distributor PT Lautan Luas plans to form two joint venture operations with four overseas firms, the company announced yesterday.

The publicly listed company said the joint ventures with Japanese firms Denki Kagaku Kogyo (Denka) and Nomura Trading Co., and Singapore's Pace International and Canada's Kryton International Inc. would specialize in the manufacturing of chemicals for construction products by 1999, it announced.

The products are expected to be in the market by 2000, in which 25 percent will go to markets in Asia and Australia, the company added.

Lautan is expected to have between a 40 percent to 50 percent share in its joint venture with Denka and Nomura, and a 60 percent stake in the venture with Kryton and Pace International. (rei)