Summitplast to open third plastics factory next month<\/p>\n
JAKARTA (JP) : Publicly listed plastic component producer PT
\nSummitplast Interbenua will commence next month the operation of
\nits third factory at its industrial compound in the Lippo
\nCikarang industrial estate in West Java.<\/p>\n
Summitplast president Dhani Sutanto said here on Wednesday the
\nnew plant, which will have a production capacity of 4,000 metric
\ntons, would boost the company's total production by 15 percent to
\n32,000 metric tons a year.<\/p>\n
\"The plant will enable us to meet the growing demand from the
\nAsia Pacific, mainly came from Japan and the U.S.,\" he said
\nfollowing the company's general shareholders meeting.<\/p>\n
Dhani added that the company spent about Rp 40 billion (US$
\n3.6 million), most of it raised from the its initial public
\noffering last year, to build the new factory.<\/p>\n
Currently, Summitplast, a joint venture of two Japanese firms
\nand two Indonesian companies, operates two factories, one in
\nLippo Cikarang, Bekasi, and another in Tangerang, with total
\nproduction of 28,000 tons per annum.<\/p>\n
The company exports 95 percent of its products to electronic
\nhome appliance manufacturers and automotive companies.<\/p>\n
Dhani said the completion of the new plant would help the
\ncompany meet its sales target this year.<\/p>\n
According to him, the company expects a 20 percent increase in
\nrevenue this year from Rp 170 billion last year.<\/p>\n
\"We also estimate that our pretax profit will increase by 15
\npercent from Rp 22.3 billion in 2000,\" he said.<\/p>\n
Dhani added that realized revenue between January and April
\nsurged 65 percent to Rp 52 billion, while pretax profit in the
\nsame period increased by 40 percent to Rp 17 billion, compared to
\nthe same period last year.<\/p>\n
\"We continued to receive high demand during the period ... we
\nalso took advantage of the weakening rupiah,\" he said, adding
\nthat the company's products were sold based on the US dollar.<\/p>\n
However, he said, the company would maintain its original
\nrevenue targets because the country's ongoing political and
\neconomic uncertainties could affect the company's performance.<\/p>\n
He said, for example, that if the country's security situation
\ncontinued to weaken it would endanger the company's exports.<\/p>\n
During the meeting, the shareholders approved the company's
\nplan to pay a total of Rp 5.8 billion in dividends, or Rp 35 per
\nshare.<\/p>\n
The shareholders also agreed to the proposed one-to-five stock
\nsplit in a bid to improve the quality of the company's share
\ntrading. Under the proposal, each of the company's shares, with a
\npar value of Rp 500, will divided into five shares, each carrying
\na nominal value of Rp 100.<\/p>\n
The shareholders also agreed to changes in the composition of
\nthe supervisory board and the board of executives.<\/p>\n
The new supervisory board is led by Soebekti Hambali as the
\nchief commissioner. The other three members of the board are Amir
\nKosasih, Masa-aki Uemura, who replaces Hironori Kato, and Slamet
\nSinggih.<\/p>\n
Uemura is currently deputy general manager of the chemical and
\nplastics division at Sumitomo Corp. in Tokyo, while Slamet
\noccupies an expert staff position at the Ministry of Energy and
\nMineral Resources.<\/p>\n
Dhani Sutanto will continue to serve as company president,
\nwith Tirtadjaja Hambali as finance director, Johannes Jali as
\noperational director, Hidenori Yamada as marketing director,
\nreplacing Yojiro Ishibashi, and Naoki Hanabusa as production
\ndirector, replacing Hideto Omatsu.<\/p>\n
Yamada is also general manager of Sumitomo Shoji Plastic Co.
\nLtd., while Omatsu is general manager of the chemical and
\nplastics division at Sumitomo Corp. (05)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/summitplast-to-open-third-plastics-factory-next-month-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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