PT Pindo Deli plans to go public next year
PT Pindo Deli plans to go public next year
JAKARTA (JP): Indonesia's third largest paper manufacturer PT
Pindo Deli Pulp & Paper Mills announced on Friday that it was
making preparations to float its shares on the stock market next
year, according to company vice president Ali Alimsyah.
"We aren't sure yet, but in terms of preparations we're moving
toward that direction," he told reporters on Friday at a press
conference announcing the environmental management ISO 14001
certification the company had just received.
Pindo Deli is more than 90 percent owned by the giant Sinar
Mas Group, which controls Indonesia's largest pulp and paper
industry through its two publicly listed companies PT Indah Kiat
Pulp & Paper and PT Tjiwi Kimia.
Unlike its two other sister companies, Pindo Deli produces a
range of value-added paper products including art paper, coast
coated paper, coast coated board, woodfree, computer stationary,
photocopy paper, carbonless paper, corrugated board and tissue.
Pindo Deli has a production capacity of 700,000 tons per year
and it exports 90 percent of its products to more than 30
countries in Europe, the U.S. and Asia.
Last year, the company booked consolidated net sales of
US$534.3 million.
"We expect net sales to grow by between 15 and 20 percent this
year," Ali said.
"With the price trend going up, the figure will be even better
next year," he added.
Ali said that the ISO 14001 certification was given to the
company after SGS International conducted an environmental audit
and concluded that all of Pindo Deli's environmental management
controls had met international standards.
He said that the ISO 14001 certification was important for a
paper company like Pindo Deli which exported its products to
developed countries in Europe and the U.S.
The Pindo Deli plant, located in Karawang, West Java, uses
state of the art technology, including in its $7 million waste
water treatment facility, imported from Finland.
Ali said that by using the latest technology, the company
could ensure efficiency and the ability to compete overseas in
terms of quality and price.
He said that although the price for the new technology was
expensive, but the company would benefit from the still
relatively low paper consumption in Asia. (rei)