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View all search resultsIndopoly invests $20 million more in RI, China
Flexible packaging film maker PT Indopoly Swakarsa Industry is planning to invest more than US$20 million for corporate development and a capacity increase at its existing factories in Indonesia and China
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lexible packaging film maker PT Indopoly Swakarsa Industry is planning to invest more than US$20 million for corporate development and a capacity increase at its existing factories in Indonesia and China.
'We're aiming to finish [disbursing] the investment in the first half of 2015. To date, $20 million has been realized. So, the figure will be more than that [by the time of completion],' Indopoly president director Henry Halim said in a press conference on Monday as quoted by Antara.
He said the company was spending the money on the third metalizing machine to be placed in Purwakarta, West Java, on the second extrusion-coating machine for thermal lamination films in Suzhou, China, and on intensively upgrading one of the machines in Purwakarta.
Indopoly director Pe Maria Indra said that 30 percent of the investment money came from cash reserves and the remainder from bank loans.
Maria forecast that profits would be flat this year, compared to last year, because of the lack of expansion this year and they would only start growing next year in line with its expansion moves.
The publicly listed firm's shares traded at Rp 100 (less than 1 US cent) on the Indonesia Stock Exchange (IDX) on Monday, a 2.91 percent drop from the previous close.
