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Nittoku establishes JV for automotive nonwovens
Nihon Tokushu Toryu (Nittoku) has established a joint venture with Swiss company Autoneum Holding for the production of sound insulation materials for automotive applications in Indonesia.
The company is a specialist in noise insulating nonwovens, as well as aircraft and automotive paint. Nittoku has already set up noise insulation plants in four countries: the US, China, Thailand and India. This is the fifth overseas operation in Indonesia.
The company will invest one billion JPY in the project and it will be a 50:50 JV. Nittoku has been importing noise insulating materials from Thailand into Indonesia but expects the local production to enhance the market share of Nittoku in the country. The parent company Nittoku will take 61% of business share for the noise insulation product and 39% for automotive and aircraft paint.
