Summitplast plans new factory

Tue, 21 Nov 2000, 00:00 WIB | Source: JP

JAKARTA (JP): PT Summitplast Interbenua, a plastic component
producer, will build its third factory in its industrial compound
in the Lippo Cikarang industrial estate next year.

The company said on Monday that it would spend about Rp 50
billion (about US$5.4 million) for the construction of the new
factory.

About Rp 32 billion of the total fund for the new factory
would come from the proceeds of the company's recent initial
public offering (IPO).

Summitplast, which is jointly owned by Dynaplast, Japan's
Sumitomo Corporation and PT Panca Teladan, operates two factories
one in Tangerang and the second in Bekasi, West Java, with a
total production capacity of 280,000 metric tons per annum. (hen)

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