Indonesia's Astra Otoparts forms JV with Japanese firm for automotive component production
MetalArt Corporation is expected to hold a majority stake of 70% with Astra Otoparts holding the balance.
Astra Otoparts, the spare-parts unit of Indonesia's largest automotive distributor, Astra International, has begun operations at a new joint-venture (JV) plant with Japanese-based MetalArt Corporation to produce automotive components, reports local news agency Antara News. The JV partners have invested as much as JPY3.7 billion (USD34.7 million) to set up the 32,000-square-metre plant in Karawang, West Java. Astra Otoparts director Robby Sani said in a statement that the JV would operate under the name of PT MetalArt Astra Indonesia and engage in the production of car forging parts for the original equipment (OE) market.
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