Michelin
The Michelin Group will greatly enhance its position in the market by acquiring a local facility with high quality facilities that can be put into production immediately. Taking advantage of technology and new investment, Michelin will gradually convert the production capacity of Multistrada's third-line brand tires into the Group's second-line brand tire products, thereby releasing the production capacity of first-line brand tires from other Asian factories and serving as second-tier brand tires in Europe, North America and Asia. Support for growth in demand.
In addition, Michelin will work with Indomobil and private investors to acquire a 20% stake in the retailer PT Penta Artha Impressi (hereinafter referred to as “Pentaâ€), which will promote the marketing and sales of the Michelin Group brand in Indonesia, thus ensuring market compliance. Enter and benefit from the future growth of the market.
Michelin Group CEO Bernard said: "The acquisition of Multistrada is a great opportunity for Michelin to expand its business in Indonesia. In this large-scale Southeast Asian country, we can immediately obtain competitive and high-quality production without any new production facilities. â€
Indonesian tire manufacturer Multistrada
Multistrada CEO Pieter Tanuri said: "We are proud of the achievements of Multistrada, and we are convinced that Michelin is the ideal partner to lead Multistrada into a new era of growth and benefit all stakeholders and employees."
In recent years, Multistrada Arah Sarana has suffered continuous losses and the loss has continued to expand. Net profit for 2014 was $606,161. Next, for two consecutive years, Multistrada lost money. In 2015, the company had a net loss of US$26.79 million and a 2016 net loss of US$6.99 million. In 2017, Multistrada Arah Sarana had sales of $280.97 million, of which exports accounted for 77.2% of total sales and a net loss of $8.07 million.
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