22 Mar 2004
Two large Japanese rubber processors have formed a joint venture to make automotive antivibration parts in Indonesia, according to a public announcement. Fukoku Rubber and Tokai Rubber have called the new company PT. Fukoku Tokai Rubber Indonesia, and Tokai will own 34 percent of the equity.
The new company is scheduled to have 200 employees by the end of 2004. Fukoku Rubber and Tokai Rubber expect their Indonesian joint venture to post 660 million yen in sales in fiscal 2004, rising to Yen 1800 million (€13.6 million) by 2008.
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