Texmaco to make car parts

Texmaco to make car parts

JAKARTA (JP): Texmaco Perkasa Engineering (TPE), a subsidiary of the Texmaco Group, will expand into automotive component industry in cooperation with BTR Engineering of Australia.

TPE, the engineering arm of the textile-based Texmaco Group, and the Australian company agreed here yesterday to form a joint venture as the initial step of their cooperation commitment.

The joint venture company to be named PT BTR Perkasa Automotive will produce manual transmission, axles and propeller shafts for sedans and trucks, TPE said in a statement.

TPE, listed on the Jakarta and Surabaya stock exchanges, is engaged in the production of textile-related machinery while BTR Engineering is a subsidiary of BTE Nylex PTE Lt., one of major automotive component manufacturers in Australia. (hen)