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Article: MALAYSIA'S GOODWAY TO SET UP JV OFF-THE-ROAD RETREADING PLANT.
- Article from:
- AsiaPulse News
- Article date:
- July 18, 2006
CopyrightCOPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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KUALA LUMPUR, July 18 Asia Pulse - Goodway Integrated Industries Berhad (KLSE:7192) has signed a joint venture agreement with PT OTR Technology Internasional to set up an Off-the-Road (OTR) retreading plant in Nilai in the southern Malaysian state of Negeri Sembilan.
Under the agreement, Goodway will subscribe for 599,998 shares representing 60 per cent of the enlarged issued capital of the joint venture company, it said in a statement on July 17.
PT OTR will hold the balance of 40 per cent stake or 400,000 new shares in the joint venture.
Goodway will fund the ...