Eterindo increases production capacity

JAKARTA (JP): Integrated chemical producer PT Eterindo Wahanatama, through its subsidiary PT Eterindo Nusa Graha, has started operating a new plant to raise its specialty chemical production capacity 66,000 tons a year, an executive said.

Eterindo Wahanatama's general manager, Wahyudi Harjo, said after the company's shareholders' meeting here Thursday that the new plant was built in Gresik, East Java with an investment of US $45 million. It began operating earlier this month.

He said the group's specialty chemicals were alkyd, amino, polyester and synthetic latex -- auxiliary materials for the manufacture of products such as textiles, paint and PVC.

The group also produced phthalic anhydride (PA) and plasticizer, he said.

PT Petrowidada, a subsidiary of Eterindo Wahanatama in Gresik, produces PA to an annual capacity of 70,000 tons. PA is supplied as feedstock to Eterindo Nusa Graha and another subsidiary, PT Eternal Buana Chemical Industries which produces 100,000 tons of synthetic resin a year in Tangerang, West Java.

The group can make 230,000 tons of chemicals a year.

Eterindo Wahanatama, established in 1992 by the Sridaja family, expects a profit of Rp 93 billion from its projected sales revenue of Rp 430 billion this year.

Eterindo Wahanatama's president, Hadiran Sridjaja, said the group planned to increase its exports to about 25 percent of its total sales this year, from 14 percent of its sales last of Rp 254 billion.

Eterindo Wahanatama was listed on the Jakarta and Surabaya Stock Exchanges last month. (13)