AKR Corporindo acquires four China assets
PT AKR Corporindo Tbk, one of Indonesia's largest bulk chemical distribution company, acquired four assets in China with total investment of RMB70.8 million.
According to its letter to Jakarta Stock Exchange today, AKR acquired Guigang Port Company, Guigang Minyun Port, Guigang Lumberyard, and Guigang Honglian Port Co Ltd.
According to its letter to Jakarta Stock Exchange today, AKR acquired Guigang Port Company, Guigang Minyun Port, Guigang Lumberyard, and Guigang Honglian Port Co Ltd.
AKR Group is one of Asia Pacific's largest manufacturer of sorbitol & starch-derivatives with plants located in East Java and South China.
The consolidated revenues were Rp 2.83 trillion for the year ended 31st December 2005 compared to Rp2.19 trillion during the year ended 31st December 2004, representing an increase of 29.3%.
This is not the first China acquisition for AKR. Back in 2004, AKR acquired 100 percent shares in Khalista (Liuzhou) Chemical Industries Ltd, China.
In the domestic market, AKR entered the fuel oil distribution business early last year with investment of Rp30bn out of Rp100bn to modify four liquid chemical tanks into oil tanks in four locations in Java Island.
AKR Corporindo had signed a contract with a unit Royal Dutch/Shell Group to transport fuel to up to a dozen Shell-branded gas stations that the petroleum giants plans to open in Indonesia. AKR is reportedly discussing with other oil giants such as BP, Petronas, and Total SA. AKR has also been supplying fuel to industries in East Java since October 2005.
The consolidated revenues were Rp 2.83 trillion for the year ended 31st December 2005 compared to Rp2.19 trillion during the year ended 31st December 2004, representing an increase of 29.3%.
This is not the first China acquisition for AKR. Back in 2004, AKR acquired 100 percent shares in Khalista (Liuzhou) Chemical Industries Ltd, China.
In the domestic market, AKR entered the fuel oil distribution business early last year with investment of Rp30bn out of Rp100bn to modify four liquid chemical tanks into oil tanks in four locations in Java Island.
AKR Corporindo had signed a contract with a unit Royal Dutch/Shell Group to transport fuel to up to a dozen Shell-branded gas stations that the petroleum giants plans to open in Indonesia. AKR is reportedly discussing with other oil giants such as BP, Petronas, and Total SA. AKR has also been supplying fuel to industries in East Java since October 2005.
Labels: Chemical
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