Boral raises RI stake<\/p>\n
SYDNEY (Reuters): Building products group Boral Ltd said
\nyesterday it had increased its share in Indonesian concrete
\ncompany PT Jaya Readymix to 90 percent from 50 percent.
\nTerms were not disclosed.<\/p>\n
Boral said the PT Jaya Readymix joint venture commenced in
\n1972 as the first readymix concrete producer in Indonesia, and
\nwas the largest concrete operator in the Indonesian market.<\/p>\n
\"Our joint venture partner, PT Pembangunan Jaya offered Boral
\nthe opportunity to purchase 80 percent of its shareholding in PT
\nJaya Readymix,\" Boral managing director Tony Berg said.<\/p>\n
\"We believe this is a good investment in a strong business
\nwith a leading market share,\" he said. Berg said the Indonesian
\noperation was one of the company's more profitable businesses in
\nthe region and the purchase of the 40 percent stake came at a
\ntime when assets could be purchased at good values.<\/p>\n
A company spokesman later said Boral had been involved in
\nIndonesia for 25 years and was taking a long term view about the
\nlocal economy.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/boral-raises-ri-stake-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
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