Mar 25, 2012

Intraco Penta ties up China Heavy Truck

PT Intraco Penta Tbk (INTA) has entered into a memorandum of understanding with China National Heavy Truck Company (CNHTC), a parent of Chinese Sinotruk truck maker, on last Friday.
According to the MoU, President Director Jimmy Halim at PT Intraco Penta Wahana, subsidiary of INTA, the company  will establish a joint venture company to assembly Sinotruk in Indonesia with a total investment of US$100 million. A feasibility study will be held this year.
The assembler is aimed to have capacity of 24 tons of light truck for Indonesia market and Asean.
Jimmy said the company is optimistic to sell 650 units of Sinotruk this year. INTA Group recorded 1,580 units of heavy equipment sales last year from 835 units a year earlier.

Disclosure: No position at the stock mentioned above.

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