Astra International
Encyclopedia
Astra International was founded in 1957, based on a small trading business operated by brothers Tjia Kian Tie and William Soeryadjaya
. The family had begun its trading activities by the 1940s, initially operated as a distributor of fruit juices and other agricultural and grocery goods, before adding a small export business as well.
Now Astra has become one of Indonesia's largest diversified conglomerates
in Indonesia
. Over the years Astra has grown and become the largest automotive distributor and producer in Indonesia partnering with Japanese automakers such as Toyota, Daihatsu and Isuzu.
Astra has expanded its business lines not only in automotive related businesses and now has six core businesses: Automotive, Financial Services, Heavy Equipment, Agribusiness, Information Technology and Infrastructure. A number of strategic alliances with leading global players in various industries has been established. At year-end 2007, Astra Group had a workforce of 116,867 people, spread across 130 subsidiaries.
Astra International, or the Astra Group, is majority owned by Jardine Cycle & Carriage
of Singapore which in turn is majority owned by the Jardine Matheson Group.
The company's operations have long centered around its core automotive manufacturing and distribution business, which remains its largest division, at nearly 83% of total sales of IDR 31 trillion ($3.7 billion) in 2002. The opening of Indonesia's import market at the dawn of the 21st century, especially to fellow ASEAN economic community members, has forced Astra to adapt.
In May 2003, the company sold off nearly all of its holdings in its longtime automotive manufacturing joint venture with Toyota. The move, the proceeds of which were earmarked toward paying down the company's $1 billion in debt, refocused Astra primarily on its automotive sales and distribution network, which remains the largest in Indonesia.
The company holds the exclusive distribution rights to Toyota (the country's biggest selling brand), Peugeot
, Daihatsu, BMW
, Isuzu
, and Nissan Diesel. The company also maintains manufacturing operations for certain Daihatsu and Isuzu vehicles, as well as the exclusive manufacturing and distribution rights for Honda
motorcycles, the leading motorcycle brand in the country. Other Astra divisions include Financial Services, mostly to finance automobile purchases, which accounted for 5.4 percent of sales in 2002; Agribusiness, which produced 6.6 percent of sales; heavy equipment manufacturing and wood-based production, which together added nearly 2.5 percent of sales. Nearly all of the company's operations are focused on the Indonesian market.
Since 1990, the Company had been a public company, listed on both the Jakarta and Surabaya Stock Exchanges, now known as the Indonesia Stock Exchange with the Company’s market capitalization as of 31 December 2007 stood at IDR 110.5 trillion.
William Soeryadjaya
William Soeryadjaya , born in Majalengka, was an Indonesian businessman who co-founded Astra International, Indonesia's largest automobile retailer....
. The family had begun its trading activities by the 1940s, initially operated as a distributor of fruit juices and other agricultural and grocery goods, before adding a small export business as well.
Now Astra has become one of Indonesia's largest diversified conglomerates
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
in Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
. Over the years Astra has grown and become the largest automotive distributor and producer in Indonesia partnering with Japanese automakers such as Toyota, Daihatsu and Isuzu.
Astra has expanded its business lines not only in automotive related businesses and now has six core businesses: Automotive, Financial Services, Heavy Equipment, Agribusiness, Information Technology and Infrastructure. A number of strategic alliances with leading global players in various industries has been established. At year-end 2007, Astra Group had a workforce of 116,867 people, spread across 130 subsidiaries.
Astra International, or the Astra Group, is majority owned by Jardine Cycle & Carriage
Jardine Cycle & Carriage
Jardine Cycle and Carriage Limited was renamed from Cycle and Carriage following the integration into the Jardine Matheson Group in 2004. The name change recognises Cycle & Carriage's distinguished 104-year operating history and firmly establishes Jardine Cycle & Carriage as part of the Jardine...
of Singapore which in turn is majority owned by the Jardine Matheson Group.
The company's operations have long centered around its core automotive manufacturing and distribution business, which remains its largest division, at nearly 83% of total sales of IDR 31 trillion ($3.7 billion) in 2002. The opening of Indonesia's import market at the dawn of the 21st century, especially to fellow ASEAN economic community members, has forced Astra to adapt.
In May 2003, the company sold off nearly all of its holdings in its longtime automotive manufacturing joint venture with Toyota. The move, the proceeds of which were earmarked toward paying down the company's $1 billion in debt, refocused Astra primarily on its automotive sales and distribution network, which remains the largest in Indonesia.
The company holds the exclusive distribution rights to Toyota (the country's biggest selling brand), Peugeot
Peugeot
Peugeot is a major French car brand, part of PSA Peugeot Citroën, the second largest carmaker based in Europe.The family business that precedes the current Peugeot company was founded in 1810, and manufactured coffee mills and bicycles. On 20 November 1858, Emile Peugeot applied for the lion...
, Daihatsu, BMW
BMW
Bayerische Motoren Werke AG is a German automobile, motorcycle and engine manufacturing company founded in 1916. It also owns and produces the Mini marque, and is the parent company of Rolls-Royce Motor Cars. BMW produces motorcycles under BMW Motorrad and Husqvarna brands...
, Isuzu
Isuzu
, is a Japanese car, commercial vehicle and heavy truck manufacturing company, headquartered in Tokyo. In 2005, Isuzu became the world's largest manufacturer of medium to heavy duty trucks. It has assembly and manufacturing plants in the Japanese city of Fujisawa, as well as in the prefectures...
, and Nissan Diesel. The company also maintains manufacturing operations for certain Daihatsu and Isuzu vehicles, as well as the exclusive manufacturing and distribution rights for Honda
Honda
is a Japanese public multinational corporation primarily known as a manufacturer of automobiles and motorcycles.Honda has been the world's largest motorcycle manufacturer since 1959, as well as the world's largest manufacturer of internal combustion engines measured by volume, producing more than...
motorcycles, the leading motorcycle brand in the country. Other Astra divisions include Financial Services, mostly to finance automobile purchases, which accounted for 5.4 percent of sales in 2002; Agribusiness, which produced 6.6 percent of sales; heavy equipment manufacturing and wood-based production, which together added nearly 2.5 percent of sales. Nearly all of the company's operations are focused on the Indonesian market.
Since 1990, the Company had been a public company, listed on both the Jakarta and Surabaya Stock Exchanges, now known as the Indonesia Stock Exchange with the Company’s market capitalization as of 31 December 2007 stood at IDR 110.5 trillion.