ID :
60220
Tue, 05/12/2009 - 17:40
Auther :
Shortlink :
https://www.oananews.org//node/60220
The shortlink copeid
ASTRA INTERNATIONAL TO EXPAND MINING BUSINESS
Jakarta, May 12 (ANTARA) - PT Astra International (ASII) plans to expand further its business in the mining sector because of its good prospects and potential to generate profits in the long term.
The company's chief corporate communication, Arief Istanto, said PT ASII through its subsidiary PT United Tractor (UNTR) also planned to acquire two coal mining companies in Kalimantan in an effort to increase its production capacity in the mining sector.
"Right now the plan is still being studied for submission to the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) for an approval," he told newsmen.
He said the acquisition was expected to be implemented in 2010 but if it could be realized this year it would be better.
He said if the acquisition of the two coal mining companies was done, the target of coal production of PT ASII Group could increase around one million metric tons in 2011.
He said the target of coal production of PT ASII's business in the mining sector in 2009 reached three million metric tons and until the first quarter this year only 700,000 tons of it had been achieved.
"The acquisition could increase the company's long-term income," he said.
Arief would not tell the names of the two companies nor the budget for it, waiting for the approval from the Bapepam-LK.
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The company's chief corporate communication, Arief Istanto, said PT ASII through its subsidiary PT United Tractor (UNTR) also planned to acquire two coal mining companies in Kalimantan in an effort to increase its production capacity in the mining sector.
"Right now the plan is still being studied for submission to the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) for an approval," he told newsmen.
He said the acquisition was expected to be implemented in 2010 but if it could be realized this year it would be better.
He said if the acquisition of the two coal mining companies was done, the target of coal production of PT ASII Group could increase around one million metric tons in 2011.
He said the target of coal production of PT ASII's business in the mining sector in 2009 reached three million metric tons and until the first quarter this year only 700,000 tons of it had been achieved.
"The acquisition could increase the company's long-term income," he said.
Arief would not tell the names of the two companies nor the budget for it, waiting for the approval from the Bapepam-LK.
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