Semen Gresik sales grow on exports<\/p>\n
JAKARTA (JP): State cement maker PT Semen Gresik (SG) sold 5.5
\nmillion tons in the January to May period this year, a 12 percent
\nincrease from 4.88 million tons during the same period last year,
\nthe company's president, Urip Timuryono, said here on Friday.<\/p>\n
Urip said that the increase in the total sales volume was
\nmainly due to a sharp increase in exports during the January to
\nMay period.<\/p>\n
Exports recorded a steady increase since January last year as
\nmost of the production was still sold overseas, he said, adding
\nthat exports in May alone almost doubled to 449.63 tons from
\n299.45 tons in the same month last year.<\/p>\n
"The over supply in the domestic market has induced cement
\nproducers here to export their output," he said after the
\ncompany's annual shareholders meeting.<\/p>\n
Domestic consumption in 1999 stood at 18.7 million tons of
\ncement, while the country's combined cement production capacity
\nhad already reached 46.23 million tons, he added.<\/p>\n
He said the company forecast a 10 percent annual growth of
\nsales volume this year on continued strong exports.<\/p>\n
In 1999, the company's total sales volume reached 12.65
\nmillion tons, up from 10.14 million tons the previous year. Of
\nthe above amount, the company exported 4.18 million tons and 1.75
\nmillion tons of cement respectively.<\/p>\n
In the meeting, the company's shareholders approved the
\nmanagement proposal to distribute a cash dividend of Rp 121.68
\nper share for the 1999 financial year.<\/p>\n
Urip said the company's debt, which would mature this year,
\nwas at about Rp 200 billion and about US$22 million in foreign
\ncurrencies.<\/p>\n
Asked whether the company would divest its affiliate, Semen
\nPadang, as demanded by local people, West Sumatrans, he said,
\n"The government in fact did not propose such an agenda (of
\ndivestment) to this shareholders meeting."<\/p>\n
The annual production capacity of Semen Gresik is at 17.3
\nmillion tons, while Semen Padang has a 5.5 million-ton production
\ncapacity, according to Urip.<\/p>\n
As of late June, the government owns 51.01 percent of Semen
\nGresik, foreign partner Cemex of Mexico, 25.53 percent, and the
\npublic, 23.46 percent. (udi)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/semen-gresik-sales-grow-on-exports-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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