Astra Otoparts Looks To Establish Three Joint Ventures
News: Indonesian automotive parts manufacturer Astra Otoparts (AUTO), a subsidiary of the Astra Group conglomerate, is looking to set up three joint ventures in 2014, reports the Jakarta Post. Through this move, Astra Otoparts aims to acquire new businesses. The company expects to explore other business sectors not widely developed in the country, such as front-wheel drive cars, press welding or stamping, owing to their vast business potential, according to AUTO Director Hamdhani D. Salim. Astra Otoparts has earmarked capital expenditure of IDR6trn (USD525mn) in 2014.