NGK sets up RI subsidiary

NGK sets up RI subsidiary

TOKYO (Reuter): NGK Insulators Ltd said it would set up a wholly owned subsidiary in Indonesia in April to produce ceramic components for catalytic converters.

The new company, PT NGK Ceramics Indonesia, capitalized at US$10 million, plans to invest 1.6 billion yen to build a plant in the East Jakarta Industrial Park in Lemahabang, Bekasi.

Construction will completed by May 1997.

The company said it planned to start production in 1998 with an annual output rate of 2.5 million units for sale to Japanese carmakers' Asian units. The company said it hoped to create 90 local jobs.