Holcim eyeing Indonesia’s cement factories

Holcim eyeing Indonesia’s cement factories
Published: 16 November 2009

Cement company PT Holcim Indonesia Tbk is likely trying to acquire some Indonesian cement factories.

"The cement factories are located in East Java," VIVAnews anonymous source said on Friday, Nov 13.

Holcim Indonesia relationship management director Rusli Setiawan stated the company has not yet planned to take over any domestic cement factories in the near future. "No plan has been made," he said in Jakarta, November 16.

The reason behind this is that in addition to acquiring a factory in Malaysia, the company is constructing a factory in Tuban, East Java.

As per September 30, 2009, Holderfin B.V owned SMCB-coded shares by 77.33 per cent, while the remaining stocks were owned by the public.

As reported earlier, Holcim Indonesia and a bank syndication including Tokyo Mitsubishi (coordinator), PT Bank Central Asia Tbk, PT CIMB Niaga Tbk, DBS and Sumitomo Mitsui signed a loan agreement of Rp 1 trillion.

The loan was to support the company’s plan in acquiring Malaysia-based cement processing factory and to restructure debt.