Gurit Enters into Balsa Wood Joint Venture

June 26 2017

Gurit has signed an agreement to form a joint venture for balsa wood production in Java, Indonesia.

Under the terms of the agreement, Gurit will hold 55% and Mr. Setiyo Budi Nugroho will hold 45% of the shares in the newly founded company PT Gurit Parta Balsa, a manufacturer of balsa wood blocks based in Probolinggo, Java, Republic of Indonesia.

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