Dynaplast to buy foreign plant

JAKARTA (JP): Shareholders of plastic packaging company PT Dynaplast approved on Thursday the management's proposal to acquire a 51 percent stake of another plastic packaging company based in Thailand, Berli Prospack Co.

"We will spend Rp 35 billion to finance the acquisition," said company corporate secretary Gunawan Tjokro after the shareholders meeting.

He said the company expected the acquisition to take place in mid-July.

Dynaplast recorded revenue of Rp 115.6 billion during the January to May period, a 63 percent increase compared to the same period last year. The company did not provide a net income figure.(udi)