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)