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Indonesia's Astra Otoparts to form JV with Japan's Bridgestone
July 6, 2015 / 6:48 AM / 2 years ago

Indonesia's Astra Otoparts to form JV with Japan's Bridgestone

JAKARTA, July 6 (Reuters) - Indonesian auto parts maker PT Astra Otoparts Tbk said on Monday it had signed an agreement to form a joint venture with Japan’s Bridgestone Corp to make car components.

Astra Otoparts, a unit of conglomerate PT Astra International Tbk, and Bridgestone will invest 174 billion rupiah ($13.03 million) in the joint venture, with Bridgestone controlling 51 percent of the company and Astra the rest, Astra said in a statement.

Mass production by the joint venture unit will start in January 2016, it said. ($1 = 13,358.0000 rupiah) (Reporting by Fransiska Nangoy; Editing by Gopakumar Warrier)

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