Sep 17, 2011

Intraco Penta to expand offices

Heavy equipment distributor PT Intraco Penta Tbk (INTA) plans to establish five representative offices next year as a part of business expansion.
President Director Petrus Halim, as quoted by Kontan daily, said the representative offices will be provided in Sulawesi and Maluku as the company hasn't expanded its business in both islands. So far, Intraco Penta provides services in Manado and Makassar, both cities in Sulawesi.
The company hopes to achieve the sales target of 1,293 units in 2011. By end of June 2011, the company sold 737 units of equipment.
Intraco Penta is scouting a coal acquisition with the valuation above US$200 million. He said the target coal company may have valuation higher than Intraco's market capitalization which is now about US$200 million.
Intraco Penta was founded in 1970 and listed at Indonesia Stock Exchange in 1993. Intraco Penta has several subsidiaries such as PT Intan Baruprana Finance, PT Columbia Chrome Indonesia, PT Terrafactor Indonesia, and PT Karya Lestari Sumberalam. Intraco is distributor for heavy equipment brands such as Volvo, Bobcat, Mahindra Tractors, and Sinotruk.

Disclosure: No position at the stock mentioned above.

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