Gresik looking for acquisition in Southeast Asia

Gresik looking for acquisition in Southeast Asia
Published: 16 December 2010

Indonesia’s largest cement producer PT Semen Gresik said it wants to acquire a cement factory in a southeast Asian country to boost production next year.

Semen Gresik is set to increase its cement production by 25 per cent in 2011, Dwi Soetjipto, the president of the state company, said on Wednesday.

Mr Soetjipto said the company will buy a cement producer either in Malaysia or Vietnam, but most likely in Malaysia.

He said the company is interested in acquiring one with a production capacity of around 3Mta.

He said negotiations have been in progress with a Malaysian company but he declined to give name.