Summitplast plans new factory

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)