Indorayon buys Kemira

Indorayon buys Kemira

JAKARTA (JP): Asia Pacific Forest Products Ltd., a subsidiary
of PT Inti Indorayon Utama (Indorayon) has acquired 100 percent
of the shares of Finnish viscose fiber producer Kemira Fibers Oy.

Indorayon director Brett G. Hutton said in a statement sent to
The Jakarta Post yesterday the acquisition of the third largest
European viscose fiber producer was completed May 1.

He said Indorayon would benefit from Kemira's expertise in
fiber product technology and its European market.

Kemira is reportedly Europe's third largest producer of
viscose fiber for textile and non-woven application with an
annual production capacity of 65,000 tons.

Indorayon is a major manufacturer of paper pulp and rayon
fiber in North Sumatra with an annual capacity of 240,000 tons of
market pulp, including 180,000 tons of dissolving pulp and 60,000
tons of rayon fiber.

The company, listed on the Jakarta and Surabaya stock
exchanges, is 61.3 percent owned by Asia Pacific Resources
International Ltd which is listed on the New York Stock Exchange.
(jsk)