JAKARTA (Yosefardi) – PT Astra Otoparts Tbk (AUTO), automotive component subsidiary of Astra International (ASII), and Japan-based MetalArt Corporation had in September 2, 2013 signed a cooporation agreement to set up joint venture (JV) company.

The JV will produce forging parts for four-wheels vehicles’ OEM market such as crankshafts, gears, and connecting rod. The plant of JV will be located in Karawang International Industrial City (KKIC), in Karawang, West Java.

MetalArt holds 70% interest in JV while AUTO holds the rest. The JV will cost US$45.3 million. Its plant is targeted to commence operation in July, 2014 with production capacity of 60,000 units, and 8.7 million units in 2017.

AUTO booked revenues of Rp4.16 trillion in first half of this year and Rp8.28 trillion in 2012. (yohanneso@yosefardi.biz)