JAKARTA - PT Inti Ganda Perdana, a subsidiary of PT Astra Otoparts Tbk (AUTO) expanded its manufacturing business by establishing a joint venture, PT Astra NTN Driveshaft (Andin) with NTN Corporation.
Wanny Wijaya, Director of PT Astra Otoparts Tbk (AUTO), said that the company invested Rp 61.20 billion in the joint venture, which is based in Karawang, West Java. "Andin will engage in the driveshaft manufacturing business, " he said as quoted from the disclosure of company information.
According to him, the purpose of the establishment of the joint venture is to fulfil the demand for driveshafts for vehicles and tractors. IGP owned 42.5% shares by the Astra Otoparts. (LK/AR)