PT Kolon Ina operates polyester plant in Serang

PT Kolon Ina operates polyester plant in Serang

JAKARTA (JP): PT Kolon Ina, a joint venture between Korea's
Kolon Industries Inc and its local partner PT Inamulti Intipack,
officially started operating its polyester film plant in Serang,
West Java.

The plant, located on a nine-hectare plot of land, will
produce 12,000 tons of polyester film a year.

Kolon Ina's president Song Sang Hyun said the plant was built
with an initial investment of US$15 million.

"The plant is part of Kolon's business expansion worldwide as
we are going to export most of our products," Song said.

He said the company would export 80 percent of its products,
and the remaining 20 percent would be marketed locally.

The new factory would prepare Kolon for global competition in
the polyester market in Southeast Asia, as the demand for
products in the region would increase by 15 percent in the next
few years, he said.

"We are also going to expand our market in America and
Europe," he said.

Kolon Industry Korea owns a 75 percent stake in the joint
venture, and Ina Multi, the sole distributor of Kolon's products
in the country, the remaining 25 percent.

Song said the joint venture was also building a nylon film
factory at the same site, with an approximate investment of US$70
million.

The plant would be able to produce 4,000 tons of nylon film a
year and its completion is due in November, he said.

Kolon Industries is a subsidiary of Kolon Group, a Korean
multinational company which is known as a producer of fiber
products, including nylon and polyester filament, tire cord, and
raw fabric.

The company, established in 1969, has diversified its business
to nonfiber products as well, producing such things as
engineering plastic, video film, and tape.

Song said Kolon Industries' assets have reached US$1.77
billion, and its sales value, as of the end of last year, was
US$1.1 billion. (das)