Matsushita's RI venture

Matsushita's RI venture

TOKYO (AFP): Japan's Matsushita Electric Industrial Co. Ltd. said yesterday it would start producing fluorescent bulbs in Indonesia next year.

The world's largest consumer electronics company said applications were lodged July 11 with the Indonesian authorities, and approval was expected in September.

The production venture, to be named PT Matsushita Lighting Indonesia, would have capital of US$60 million, the company said in a statement.

The venture is expected to start producing the bulbs from August 1997 at a plant to be built in east Java for exports to the markets in Asia, the United States, Europe and the Middle East, it said.