BAKU, Azerbaijan, Apr. 2
By Klavdiya Romakayeva - Trend:
The Indonesian PT. Modena Indonesia company plans to ensure the export of Uzbek products to the markets of the Middle East, Asia-Pacific region and Russia under the MODENA brand, Trend reports referring to the Embassy of Uzbekistan in Indonesia.
The heads of Uzeltekhsanoat, Artel Group and Indonesian PT. Modena Indonesia held negotiations and discussed joint investment projects in the electrical industry via video conferencing.
The parties exchanged data on key performance indicators of the companies and considered possible forms of cooperation between Artel Group and PT Modena Indonesia, taking into account the comparative advantages of both parties.
In particular, the companies discussed the possibilities of investing in the joint promotion of brands and the development of processes for the localization of premium products on the basis of Artel Group in Uzbekistan. In addition, the Indonesian company intends to ensure the export of Uzbek products to the markets of the Middle East, Asia-Pacific region and Russia under the MODENA brand.
It is reported that the parties reached a number of agreements, in particular, on the creation of a working group to develop and implement a cooperation program, to study the launch of a joint venture between Artel Group and PT Modena Indonesia in Uzbekistan.
Along with this, it was proposed to define a list of new types of products and components on the basis of Artel Group, to work out joint export of finished products to the CIS and the Middle East.
Initially, Modena was founded in 1960 in Italy, later acquired by Indonesian investors in 1981 and renamed PT. Modena Indonesia. Today the company produces annually about 22 million units of 50 types of electrical products, including household appliances, batteries and chargers, industrial and medical equipment. Last year, Modena's turnover was $8.7 billion.
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