Lucas Sasmito, brother in law of Budyanto Totong (shareholder of CSAP, owner of Mitra 10 and Depo Bangunan building material outlets), established CV Pan Asia Chemical, the predecessor of PT Panarub Industry, about 46 years ago. It initially produced rubber sponge and plastic sandals. Panarub is now the largest manufacturer of sport shoes in Indonesia, producing major brands like Adidas, Reebok, and its own brand Specs.

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