Jakarta still mulling merger of two state cement makers

Jakarta still mulling merger of two state cement makers
Published: 18 February 2010

Indonesia’s state enterprises ministry is still studying the merging of cement maker PT Semen Kupang with PT Semen Gresik to save the company, Mustafa Abubakar said. "The merger plan still has to be studied again as there are still problems to be solved," the state enterprises minister said here on Tuesday after visiting PT Semen Gresik.

He said it was still too early to merge the two state-owned companies as PT Perusahaan Pengelola Aset (PPA) is still restructuring PT Semen Kupang.

 The PPA earlier suggested four options for PT Semen Kupang namely liquidation, restructuring, operational cooperation with investors and corporate action.