Muliaglass to raise capacity

JAKARTA (JP): PT Muliaglass, a subsidiary of publicly-listed company PT Mulia Industrindo, will increase its glass sheet production capacity from 540,000 tons to 750,000 tons per annum through the establishment its third plant.

The construction of the new plant, which will be financed with a US$48 million loan from Eka Gunatama Mandiri, is intended to meet the increasing demand for glass sheets, Hendra Heryadi Widjonarko, the president of PT Mulia Industrindo, said in a statement released yesterday.

He predicted that the company's net profit would increase by 80 percent in 1995 to Rp 66 billion ($30 million), up from Rp 37 billion in 1994.

Mulia Industrindo is 80 percent owned by the widely- diversified Mulia Group and 20 percent by the investing public.(04)