Yamatake, Berca sign deal

JAKARTA (JP): PT Berca Indonesia and Japan's Yamatake- Honeywell Co. Ltd signed an agreement Thursday to set up a joint venture to provide electrical installation equipment and air conditioners for high-rise buildings.

Yamatake owns 55 percent of the company, called PT Yamatake Berca Indonesia, and the remaining stake is owned by Berca.

Berca is the trading arm of the Central Cipta Murdaya group, owned by husband and wife Murdaya Widyawimarta and Siti Hartati Murdaya.

Berca has served as the distributor of Yamatake's products for the past 23 years.

The joint venture's president, Osamu Yamaguchi from Yamatake, refused to reveal the total sum invested.

Yamaguchi said the current monetary crisis did not prevent Yamatake from investing in Indonesia because the company believed the country's economy would remain strong in the long run after the temporary crisis is overcome.

He targeted sales at Rp 8 billion (around US$2.05 million) in the first year, increasing to Rp 25 billion in the third year. (jsk)