Asahimas expands plant

Asahimas expands plant

JAKARTA (JP): PT Asahimas Flat Glass Co. Ltd. has started constructing its fourth float production line in Surabaya, East Java, at a cost of US$100 million.

The company said in a statement here that the construction of the new manufacturing facility, whose ground breaking was conducted on Tuesday, is funded by initial public offering (IPO) proceeds, internal financing and bank borrowing.

The new facility will have a production capacity of 150,000 tons of float glass per annum, bringing Asahimas' total production capacity to 570,000 tons per annum.

Asahimas, which was listed on the Jakarta and Surabaya stock exchanges last November, is now Southeast Asia's largest flat glass producer, operating two furnaces in Jakarta and one in Surabaya. The company is a joint venture set up by the Asahi Glass Co. of Japan and Rodamas of Indonesia. (pwn)