Gasgoo.com (Shanghai April 1) - State-owned truck manufacturer Sinotruck Group signed a memorandum of understanding with Indonesian heavy equipment distributor PT Intraco Penta to build a commercial vehicle factory in the country, news.xd56b.com reported today. A signing ceremony was held in Beijing as part of Indonesian President Susilo Bambang Yudhoyono's visit to China.

According to the agreement, Sinotruck will cooperate with Intraco Penta to build a plant manufacturing Sinotruk-branded heavy and lightweight trucks in Indonesia.

Sinotruck Group Chairman Liu Peimin attended the ceremony (pictured), where he hosted discussions between President Yudhoyono and various Chinese and Indonesian CEOs. According to Mr. Liu, the new factory is an important step for Sinotruck to enter the global market. The manufacturer hopes to see its Indonesian orders reach 1,000 units this year.

Sinotruck's exports have gotten off to a good start this year, with over 10,000 vehicles exported in the first quarter, growing 50 percent from 2011.

Source:gasgoo.com