Alumindo Perkasa acquires a 66% stake in Determinan<\/p>\n
JAKARTA (JP): PT Alumindo Perkasa Utama, the country's largest
\naluminum extrusion manufacturer, has acquired a 66-percent stake
\nin the aluminum producer PT Determinan Indah for Rp 72 billion
\n(US$33.09 million).<\/p>\n
\"The share transaction, which was approved by Alumindo
\nPerkasa's shareholders, was based on a price of Rp 3,600 per
\nshare,\" Alumindo Perkasa's director, Hadiwinarso, announced after
\nthe company's extraordinary shareholders meeting yesterday.<\/p>\n
Alumindo Perkasa previously held 15 percent of Determinan
\nIndah.<\/p>\n
Hadiwinarso said that Rp 22 billion of the total funds for the
\nacquisition were taken from Alumindo Perkasa's revenues, while
\nthe remaining Rp 50 billion came from bank loans.<\/p>\n
\"With the acquisition, we expect that our company will become
\nthe largest integrated aluminum manufacturing company in the
\ncountry, considering that Determinan also produces some 6,000
\ntons of aluminum extrusion per year,\" he said.<\/p>\n
Alumindo Perkasa, which is 53.15 percent owned by PT Gesit
\nAlumnas, 22.78 percent by the Jakarta city government and 24.07
\npercent by the investing public, produces aluminum extrusions,
\naluminum fabrications and aluminum roofing.<\/p>\n
Alumindo Perkasa has an annual production capacity of over
\n7,000 tons, representing some 35 percent of the country's
\naluminum production.<\/p>\n
\"Most of our production is exported,\" Hadiwinarso said,
\nwithout elaborating.<\/p>\n
The aluminum production is to support electronic,
\ntransportation and shipbuilding industries, he said.<\/p>\n
Alumindo Perkasa posted after-tax revenues of Rp 1.02 billion
\nlast year, down from Rp 2.39 billion in 1992 and Rp 4.23 billion
\nin 1991. (fhp)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/alumindo-perkasa-acquires-a-66-stake-in-determinan-1447893297",
"image": ""
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