Lucas, Pindad tie up

Lucas, Pindad tie up

RESTON, Virginia, U.S. (Reuter): Lucas Industries Plc said Monday it has joined with PT Pindad (Persero) and PT Metinca Dirgantara in establishing a joint venture in Indonesia for the domestic and global aerospace manufacturing industry.

The new company, PT Lucas Pindad Aerospace Indonesia, has been established to meet growing demand in the global, regional and Indonesian aerospace markets for aerospace standard precision machining at affordable costs.

Lucas said it will have a controlling interest in the joint venture, with 51 percent of the equity, while PT Pindad will have 34 percent and PT Metinca 15 percent.

The facility, based in Bandung, is expected to commence operations in midyear, the company said.