Kedaung Indah Can expands marketing to U.S. and Europe

Kedaung Indah Can expands marketing to U.S. and Europe

JAKARTA (JP): PT Kedaung Indah Can, an enamelware producer
listed on the Jakarta and Surabaya stock exchanges, will expand
its marketing networks in America and Europe by establishing
cooperation with two companies based in Los Angeles and Hamburg.

PT Kedaung Indah Can's president, Johan Dharmawan, said in an
annual meeting of the firm's shareholders here on Friday that the
Los Angeles company, which sells 80 percent of its own products
in Latin American countries and the other 20 percent in the
United States, is expected to help introduce Kedaung's products
into Brazil, Mexico, Argentina, Chile, Peru and the United
States.

Kedaung will assign the Hamburg company to market its products
in European countries, he said.

Johan refused to disclose the names of the two companies
because negotiations are still underway.

Kedaung's chief commissioner, Agus Nursalim, said the
company's after-tax profit increased by 37.3 percent to Rp 7.5
billion (Rp 245 per share) last year from Rp 5.46 billion in
1992. Its total assets more than doubled to Rp 77.82 billion as
of last December from Rp 37.37 billion as of the end of 1992.

He said the company will distribute a dividend of Rp 50 per
share from its 1993 profit on July 17. Shareholders registered on
June 17 will be entitled to dividends.

The company has two subsidiaries, Gelas Product Pte. Ltd. in
Singapore and Borneo Enamel Industrial Sdn Berhad in Malaysia.

Kedaung, established in 1974 and listed on the Jakarta and
Surabaya stock exchange in October 1993, is 40 percent owned by
PT Kedaung Subur, 36 percent by Agus Nursalim, four percent by
businessman Tan I Tjhin and 20 percent by the investing public.
(09)