GT exports to EU fall 10 percent, on euro fears - report

ERJ staff report (DS)

Jakarta - Tyre exports from PT Gajah Tunggal have reportedly declined by 10 percent, on financial fears over the euro-zone.

Indonesian website DetikOto visited Gajah Tunggal's factory in Jatake, Indonesia and spoke to Arijanto Notorahardjo, director of marketing. The paper quoted him saying, "If last year's exports to Europe have declined by 10 percent. Europe declined, while the US is relatively stable.”

He expected the situation to recover towards the end of 2012.

The report continued saying, “Throughout 2012, Tbk PT Gajah Tunggal will produce 16 million tyres for passenger vehicles and 4.5 million tyres for large and small trucks. While the type of radial truck tyres produced as many as 1,000 units per day.”

It added, the company expects to export 85 percent of production in passenger car radials, but in truck tyres, 85 percent will be used in the domestic market and just 15 percent for export.

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Press release from source

Pasokan Ban GT Radial ke Eropa Seret detikOto (Indonesian language)

GT Radial Tire supplies to Europe Decline Above story auto-translated into English (from Indonesian)