Jan 17, 2011

UNTR eyeing 6,000 unit sales in 2011

Distributor of heavy equipment Komatsu, coal mining, and coal contractor PT United Tractors Tbk (UNTR) is eyeing 6,000 units of heavy equipment sales, a 10% growth this year from 5,404 units last year.
By end of last year, United Tractor recorded 5,404 units of heavy equipment sales last year, a 73.7% rise from 3,111 unit in the previous year.
United Tractors Investor Relations Ari Setyawan said the sales was still dominated by mining and plantation sectors. 
"Heavy equipment sales in the mining sector counted 60% and the plantation contributed the remaining," he said today.
According to him, United Tractors is still doing an audit for its annual financial statement. But, the operational results will be annouced soon.
"We will also report coal production and sales volume of our subsidiary PT Pamapersada Nusantara [Indonesia's largest coal mining contractor]," Ari added.
Regarding to Pamapersada, United Tractors is considering to seek US$200 million loan facility to meet its capital expenditure requirement. United Tractor's Finance Director Gidion Hasan, in a public expose recently, said the company is seeking external financing, counting 50% of its capital expenditure.
"The remaining will be fulfilled by internally generated cash flow. In total, Pamapersada requires US$400 million capital expenditure in 2011 to bankroll spare parts and purcase of heavy equipments," he said. 
Gideon said United Tractors is considering talks with 20 familiar banks for the facilities such as Sumitomo Mitsui Banking Corporation, Marubeni, and Komatsu Astra Finance.
Pamapersada is estimated to produce 77 million tons coal, one of them is coming from PT Adaro Energy Tbk.

Disclosure: No position at the stock mentioned above.  

Print This Article

No comments: