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Barito to acquire polypropylene producer Tri Polyta
30
May '08
In order to buy a stake of about 76 percent in a major polypropylene producer PT Tri Polyta Indonesia Tbk, PT Barito Pacific Tbk BRPT JK plans to gather US $200 million by issuing unsecured notes.

Barito has a market capitalization of $1.3 billion and has been acquiring other companies to diversify its business. Its current production capacity stands at around 5,90,000 ton per year.

Official sources from Barito Pacific confirmed Fibre2fashion that the acquisition is in process and Tri Polyta which presently has a capacity of 3,60,000 is likely to increase it to 4,40,000 by 2011.

Last year, Barito had a $1 billion rights issue to acquire 70 percent of olefins firm Chandra Asri.

Fibre2fashion News Desk - India


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