Aug 4, 2011

GJTL, Proton in talks for tire supply

Tire manufacturer PT Gajah Tunggal Tbk has an opportunity to supply 4,000 tires to Malaysian car maker Proton. Gajah Tunggal, maker of GT Tire, will initiate to supply tires in November, in line with agreement made between Gajah Tunggal and Proton in August this year. 
"We are in final discussion. We are optimistic to conclude agreement with Proton," said Director Catharina Widjaja as quoted by Investor Daily today.
If Gajah Tunggal could secure the agreement, Gajah Tunggal will supply 4,000 tires a month to Proton up to January 2012. Afterward, the supply will be boosted to 22,000 tires a month. However, Catharina declined to explain further detail about the agreement.

Disclosure: No position at the stock mentioned above.

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