Oct 21, 2010

Latinusa to hold Rp131 bio revamping

Tin plate manufacturer PT Pelat Timah Nusantara Tbk (Latinusa) has mandated a consortia of contractors to revamp electrolytic tinning line worth Rp131.83 billion.
In a public statement filed to Indonesia Stock Exchange (IDX) today, Latinusa has appointed the consortia led by Nippon Steel Engineering Co Ltd with members of Fuji Electric Asia Pasific Pte Ltd, PT Sankyu Indonesia Internasional, and PT Nippon  Steel Construction Indonesia.
The revamping project is categorized as material transaction because the deal counts 30.84% of Latinusa's total equity in 2009.
According to Latinusa, the revamping project will increase efficiency, quality, and tin plate production capacity from 130,000 tons per annum to 160,000 tons per annum.
The project is aimed to fasten production capacity from 275 meters per minute to 330 meters per minute.
Nippon Steel Corporation owns 35% stake in Latinusa, PT Krakatau Steel holds 20.10%, Mitsui & Co Ltd holds 10%, Nippon Steel Trading Co Ltd holds 5%, Metal One Corporation owns 5%, PT Baruna Inti Lestari , and public shareholders hold 4.90% and 18.72% respectively.

Disclosure: No position at the stock mentioned above. 

Print This Article

No comments: