PT Kolon Ina operates polyester plant in Serang<\/p>\n
JAKARTA (JP): PT Kolon Ina, a joint venture between Korea's
\nKolon Industries Inc and its local partner PT Inamulti Intipack,
\nofficially started operating its polyester film plant in Serang,
\nWest Java.<\/p>\n
The plant, located on a nine-hectare plot of land, will
\nproduce 12,000 tons of polyester film a year.<\/p>\n
Kolon Ina's president Song Sang Hyun said the plant was built
\nwith an initial investment of US$15 million.<\/p>\n
\"The plant is part of Kolon's business expansion worldwide as
\nwe are going to export most of our products,\" Song said.<\/p>\n
He said the company would export 80 percent of its products,
\nand the remaining 20 percent would be marketed locally.<\/p>\n
The new factory would prepare Kolon for global competition in
\nthe polyester market in Southeast Asia, as the demand for
\nproducts in the region would increase by 15 percent in the next
\nfew years, he said.<\/p>\n
\"We are also going to expand our market in America and
\nEurope,\" he said.<\/p>\n
Kolon Industry Korea owns a 75 percent stake in the joint
\nventure, and Ina Multi, the sole distributor of Kolon's products
\nin the country, the remaining 25 percent.<\/p>\n
Song said the joint venture was also building a nylon film
\nfactory at the same site, with an approximate investment of US$70
\nmillion.<\/p>\n
The plant would be able to produce 4,000 tons of nylon film a
\nyear and its completion is due in November, he said.<\/p>\n
Kolon Industries is a subsidiary of Kolon Group, a Korean
\nmultinational company which is known as a producer of fiber
\nproducts, including nylon and polyester filament, tire cord, and
\nraw fabric.<\/p>\n
The company, established in 1969, has diversified its business
\nto nonfiber products as well, producing such things as
\nengineering plastic, video film, and tape.<\/p>\n
Song said Kolon Industries' assets have reached US$1.77
\nbillion, and its sales value, as of the end of last year, was
\nUS$1.1 billion. (das)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pt-kolon-ina-operates-polyester-plant-in-serang-1447893297",
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"sponsor": "Okusi Associates",
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