Honda buy out Indonesian partner
M&A: Honda Motor Co Ltd had acquired 51% shares of its partner PT Kodrat Adhimulia in PT Honda Lawadinata Power Products which sells Honda power products in Indonesia at undisclosed price.
Honda Motor Co., Ltd., established P.T. Honda Lawadinata Power Products, a joint venture between Honda (49% equity) and P.T. Kodrat Adhimulia (51%), with Rp73 billion capitl which began its operations in February 2001, selling Honda power products in Indonesia as well as to export markets.
The Indonesian power product market is rapidly recovering after the decline caused by the currency crisis of 1997. The new subsidiary will strengthen Honda's power products operations, which began local production in 1997. Honda plans to sell 150,000 units in 2002, a figure which would be four times the total for 1999.
Honda has been selling power products in Indonesia since 1972, and since 1991, its distributor, P.T. Wajamakumur Mandiri (WMM), has been responsible for sales activities.
In 1996, Honda and WMM jointly established a local production company, P.T. Sinar Honda Jaya, with headquarters in Tjikampek, West Java, and the following year began producing engines and water pumps. The new subsidiary will assume all distributorship rights from P.T. Wajamakumur Mandiri.
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Honda Motor Co., Ltd., established P.T. Honda Lawadinata Power Products, a joint venture between Honda (49% equity) and P.T. Kodrat Adhimulia (51%), with Rp73 billion capitl which began its operations in February 2001, selling Honda power products in Indonesia as well as to export markets.
The Indonesian power product market is rapidly recovering after the decline caused by the currency crisis of 1997. The new subsidiary will strengthen Honda's power products operations, which began local production in 1997. Honda plans to sell 150,000 units in 2002, a figure which would be four times the total for 1999.
Honda has been selling power products in Indonesia since 1972, and since 1991, its distributor, P.T. Wajamakumur Mandiri (WMM), has been responsible for sales activities.
In 1996, Honda and WMM jointly established a local production company, P.T. Sinar Honda Jaya, with headquarters in Tjikampek, West Java, and the following year began producing engines and water pumps. The new subsidiary will assume all distributorship rights from P.T. Wajamakumur Mandiri.
READ MORE!!!
posted by yosef at 7:40 PM
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