Toyota invests $180M in Indonesian facility
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Manufacturing News, Source : TheManufacturer.com
Published : 24 Feb 2003 21:29
Toyota will invest $180 million into its manufacturing joint venture company with PT Astra International to ramp up car exports from its Indonesian plant.
The company confirmed that the other suppliers that took part in car manufacturing with Astra would also invest $200 million. As a result, Toyota will absorb a 46% stake in the manufacturing entity, giving it a 95% stake overall.
We plan to increase the southeast Asian regional exports of multipurpose vehicles from Indonesia to about 10,000 units (next year), said Aiko Toyoda, Toyota Motor’s managing director, at a press conference following the agreement signing ceremony.
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