Waniaindah's acquisition plan

JAKARTA (JP): Publicly-listed PT Waniaindah Busana, which operates in the garment and electronics industries, announced on Tuesday a plan to acquire PT Texmaco Micro Indo Utama, a high- tech electronics manufacturer.

Waniaindah director Darmalinggam explained at a media briefing that the company is considering several financing alternatives to fund the acquisition, including increasing its equity stake.

Most importantly, he added, the acquisition will enable Waniaindah to increase the manufacture of higher value-added products such as wireless technology in communications and WEB TV for major industrial users like PT Toshiba, PT Shinwo and PT Honoris.

Darmalinggam forecast Waniaindah's net profit after the acquisition at $2 million on sales of $25 million this year, $5 million on sales of $45 million in 2001 and $11 million on sales of $70 million in 2002.