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.