Waniaindah's acquisition plan

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.