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People & Business :: Companies
Chandra Asri and Michelin form JV to produce synthetic rubber
12:57 PM MDT | June 17, 2013 | Francinia Protti-Alvarez
Chandra Asri Petrochemical (Jakarta) and tire maker Michelin (Clermont-Ferrand, France) have signed an agreement to create a joint venture in Indonesia to produce synthetic rubber, Michelin announced today. Michelin will own 55% of the jv with Chandra Asri owing the remaining 45%. The jv will require an investment of some $435 million, and construction is scheduled to start in early 2015, pending a final investment decision. The jv is expected to start up in early 2017. Michelin says demand for synthetic rubber is growing strongly since it tracks the high...
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