INDONESIA PRESS-Four foreign tyre producers to build factories in Indonesia - Investor Daily

Tue Oct 22, 2013 9:55pm EDT

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Four foreign tyre producers, Cheng Shin Rubber Industry Co Ltd. , JK tyre, Apollo Tyres and Shandong Group, plan to build factories in Indonesia and have made a combined investment of about $1.28 billion, said Aziz Pane, chairman of Indonesia's tyre manufacturers association (APBI).

Pane said that domestic car sales in 2013 are expected to reach 1.2 million units, up 9 percent from last year, while motorcycle sales are seen to reach 7.5 million units.

* Note: Reuters has not verified this story and does not vouch for its accuracy.

($1 = 11,291.5 rupiah) (Compiled by Rin Hindryati; Editing by Supriya Kurane)