Jun 23, 2011

Multistrada seeks US$500 million

Car and motorbike tire maker PT Multistrada Arah Sarana Tbk (MASA) is seeking US$300 million-US$400 million financing to bankroll production capacity expansion in the next 3 years. 
President Director Pieter Tanuri said the tire maker of Achilles, Strada, and Corsa brands plans to jack up daily output of 57.89% to 45,000 of car tires from 28,500 tires this year. 
Multistrada also aims to boost production of motorbike tire 150% to 45,000 tires a day from 16,000 tires. "To reach the target, we are considering to establish new production facilities.

Disclosure: No position at the stock mentioned above.  

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