Miwon packaging takeover

Miwon packaging takeover

JAKARTA (JP): PT Miwon Indonesia, a publicly-listed seasoning
producer, announced yesterday it had taken over the gravure
printing and packaging facilities of the East Java-based PT Jico
Agung.

Company executive Bhakti Salim said the Rp 5.20 billion
(US$2.20 million) deal was signed Tuesday to improve the
company's cost efficiency.

Packaging accounts for around 10 percent of the company's
total operational costs, he said.

Miwon Indonesia, established in 1973 as an Indonesian-South
Korean joint venture, produces monosodium glutamate (MSG), dry
glutamic acid (DGA), natural food condiments, flavored table
salt, jelly powder and fish products, such as fillets.

The company also announced that it had raised its output of
MSG and DGA seasonings to around 48,000 tons a year from around
36,000 tons previously.

Bhakti said the increased production capacity was expected to
raise total sales to Rp 150 billion this year from Rp 127 billion
in 1995, while net profits are projected to increase to Rp 10.5
billion from Rp 8.3 billion. (hen)