New firm to produce peroxides<\/p>\n
JAKARTA (JP): Sinar Mas Group, through its holding company PT
\nSinar Mas Tunggal, has established a new joint venture company
\nwith NOF Corporation and Marubeni Corporation, both of Japan, for
\nthe production and sale of organic peroxides in Indonesia.<\/p>\n
The group said in a statement yesterday that the joint venture
\ncompany, named PT NOF Mas Chemical Industries, will construct an
\norganic peroxide plant with an annual production capacity of
\n4,000 metric tons in Bekasi, West Java, at a cost of US$37
\nmillion,<\/p>\n
The new joint venture is 55 percent owned by NOF Corporation,
\n15 percent by Marubeni Corporation and 30 percent by Sinar Mas
\nGroup.<\/p>\n
The statement said that out of the cost, $13 million will be
\nfinanced with the company's equity and the remaining $24 million
\nwith loans.<\/p>\n
The new venture company will start constructing the plant by
\nNovember and begin operating it by the middle of 1997, the
\nstatement said.<\/p>\n
The organic peroxides to be produced by the new company will
\ninclude various kinds of polymerization initiators which are used
\nfor the production of PVC, LDPE, PS and dicumylperoxide (DCP) for
\nsynthetic rubbers, EVA and LDPE.<\/p>\n
Sinar Mas Group is a Jakarta-based conglomerate controlled by
\nEka Tjipta Widjaja, which concentrates its operations in real
\nestate and financial services, as well as having interest in pulp
\nand paper, plantations and vegetable oil refineries.<\/p>\n
The statement mentioned that Indonesia has been chosen as the
\nsite for the new chemical company due to its strategic location
\nand healthy foreign investment incentives.<\/p>\n
Furthermore, the Asian market, particularly the ASEAN
\ncountries and China, have shown huge potential for sales growth.<\/p>\n
Besides Indonesia, the Association of Southeast Asian Nations
\n(ASEAN) also groups Brunei, Malaysia, the Philippines, Singapore,
\nThailand and Vietnam.<\/p>\n
In Japan, NOF is a leading producer of organic peroxide with a
\nmarket share of 50 percent, while the company's market share in
\nthe world is estimated at 15 percent to 20 percent. (31)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/new-firm-to-produce-peroxides-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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