Seksun in RI joint venture

Seksun in RI joint venture

SINGAPORE (Reuter): Seksun Precision Engineering Ltd said yesterday it had entered an agreement with PT Cikarang Makmur (PCM) and Shigeru Fukushima to set up a joint venture company.

Under the agreement, Seksun would take up a 55 percent stake in a joint venture company, PT Seksun Presisi Engineering, while PCM and Fukushima would hold 40 percent and five percent stake respectively.

The joint venture company would manufacture and market metal stamping parts, fabrication of tools and dies and sub-assembly in Indonesia and other countries.

The investment would be funded by internal resources and bank borrowings.