Dynaplast to buy foreign plant

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)