Oki to set up RI unit

Oki to set up RI unit

TOKYO (Reuter): Oki Electric Cable Co. Ltd. said it will set up an Indonesian unit in March 1996 to produce telephone cables, cords for car mobile phones, and connectors.

The new company, PT Oki Electric Cable Batam, will be capitalized at US$6 million. It will be owned 90 percent by Oki Electric Industry Co. Ltd. and 10 percent by Oki Electric Cable (Asia) Pte Ltd, which is OEC's Southeast Asian sales unit. Oki Electric Industry owns 33.5 percent of OEC.

The company will start output in April 1996, and hopes to achieve annual sales of some 500 million yen in the year to March 1997, and of one billion yen in 1997/98.

The company will create 250 jobs in 1997/98.

More than 50 percent of the products made by the new company will be exported to Japan, and the rest will be marketed in Southeast Asian countries, a OEC spokesman said.