Dec 9, 2010

Bakrie Plantations exports fatty acid

Palm oil producer PT Bakrie Sumatera Plantations Tbk (UNSP) has commercially sent fatty acid and glycerine to the export markets on December 8 2010.
In a presentation material submitted to Indonesia Stock Exchange (IDX), Bakrie Plantations exported 500 tons fatty acid and 200 tons glycerine.
"We target to star-up other production lines in the next 3-9 months," said the presentation.
Bakrie Plantations has completed acquisition of four oleochemical companies of Domba Mas Group. They are PT Domas Agrointi Perkasa, PT Domas Sawitinti Perdana, PT Flora Sawita Chemindo, and PT Sarana Industama Perkasa.
Bakrie Plantations targets to accomplish the acquisition of two other remaining firms before end of 2010.
Bakrie Plantations manages oleochemical  production facilities at Tanjung Morawa, 20 km South of Medan, and Kuala Tanjung, 120 km South East of Medan.   
At Tanjung Morawa, the company manages one unit of fatty acid production facility on 7 hectares area. At Kuala Tanjung, it manages a complex of two units fatty acid, two units fatty alcohol, one unit kernel crushing plant, and one unit refinery facilities, and also jetty.
The company booked a 15.5% increase in sales to IDR1.89 trillion for the 9 months ended September 30 2010 from IDR1.64 trillion.
Gross margin rose 65.2% to IDR782.95 billion from IDR474.01 billion, reflecting a higher margin to 41.3%.
Operating profit elevated 61.7% to IDR567.85 billion from IDR351.28 billion as well.
The company's bottom line slightly increased 2.9% to IDR245.31 billion from IDR238.31 billion.

Disclosure: No position at the stock mentioned above.

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