Evergreen tie-up with Indon firms

Evergreen tie-up with Indon firms

Kuala Lumpur : Evergreen Fibreboard said it had agreed to set up a joint venture with Indonesian firms PT Hutrindo Jaya Fibreboard Manufacturing Co and PT Uforin Prajen Adhesive Industry.

The Joint venture would acquire the assets of its two Indonesian partners, Evergreen said in a stock exchange filing. It said it hoped to complete the transaction in two months and announce the purchase price and other details in due course.

The Indonesian partners were primarily engaged in the manufacture of medium density fibreboard and resin, it said. The plants are located at Prajen in south Sumatra. - AFX -Asia.