Sharp sets up RI venture

Sharp sets up RI venture

TOKYO (AFP): Japanese electronics giant Sharp Corp. announced yesterday the establishment of a television and refrigerator manufacturing venture in Indonesia with local partner PT Yasonta.

The new company, PT Sharp Yasonta Indonesia, is capitalized at Rp 40 billion (US$19 million), with Sharp holding 63.75 percent and Yasonta holding the remaining 36.25 percent, a statement said.

Color television production is targeted to rise from 130,000 units in the first year to 180,000 units in 1996 while refrigerator output is to climb from 120,000 units to 180,000 units in the same period.

"In future, there are plans to move into other electronic goods as well as plans for export of small refrigerators," the statement said.

The new company, with 950 employees in the first year, is chaired by former Yasunta president commissioner Martua Panggabean, while its president is Toshiro Noguchi, former deputy general manager for international business at Sharp.

Sharp has had a technical assistance contract with Yasonta since 1970.