TOKYO (March 22)—Tokai Rubber Industries Ltd. and Fukoku Co. Ltd. have formed a joint venture to make automotive anti-vibration parts in Indonesia.
Fukoku and Tokai Rubber each will own 34 percent of the new company, P.T. Fukoku Tokai Rubber Indonesia. The firm should generate annual sales of nearly $17 million by 2008 and employ 200 by the end of 2004, the partners said. The partnering companies did not disclose the site of the plant.
Tokai and Fukoku are both ranked among the 50 largest non-tire rubber product companies globally, with Tokai ranked 10th last year with more than $1.3 billion in rubber-related sales.