Camco-Omya gets loan

JAKARTA (JP): Calcium carbonate producer PT Camco-Omya signed a US$20 million syndicated loan agreement yesterday in Singapore to finance its expansion program.

The loan arranger and underwriter Deutsche Morgan Grenfell (Singapore) Ltd said the loan facility would be used to finance the construction of Camco-Omya's fifth manufacturing plant, due for completion in September 1997, and raise the company's output in general.

The company hopes to raise its production capacity from 240,000 tons yearly (38 percent of the national capacity) to 540,000 tons.

Calcium carbonate is widely used in the pulp and paper, paint, imitation leather and PVC pipe making industries.

The company is 51 percent owned by the Tandiono family of Indonesia and 49 percent by Pluss-Staufer Ag of Switzerland, the world's largest calcium carbonate maker.

Lead managers of the syndicated loan also include Royal Bank of Scotland (Singapore), Bank Bumiputra Malaysia Berhad (Malaysia) and Credit Lyonnais and Banque Paribas (Suisse) S.A. of Switzerland. (01)