EXPANSION OF BUSINESS: Asahimas buy Rp60 billion automotive glass machine

JAKARTA: Manufacturer of automotive and sheet glass Flat Glass Tbk PT Asahimas buy automotive glass production machinery valued at Rp60 billion from Japan.

Vice President Director Asahimas Tjahjana Setiadhi disclose the transaction was conducted on February 22, 2012 by Asahi Glass Co.. Ltd. Japan which is one of the major shareholders of the company.

"[The machine] is used at the company plant located in West Java Cikampek," he said in a statement this afternoon February 23, 2012.

He explained the purchase of the machine is done in order to support the company's main business activity because it can increase the production capacity of automotive plants in anticipation of increased demand for automotive glass in the future.

"The source of funds for the transaction using the company's internal cash and no effect on the operations of the company," he explained.

As of 30 September 2011 the company posted sales of Rp1, 85 trillion, up 7.56% compared with same period in 2010 amounting to Rp1, 72 trillion. Sales were obtained from the sale of flat glass Rp1, 37 trillion and Rp485 billion automotive glass.

The increase in sales, helped push net income growth of 9.29% to Rp247 billion from Rp226 billion.

Meanwhile, in 2012, the company can expect sales to grow 5% to around Rp2, 55 trillion. It saw Indonesia's macroeconomic growth forecasts of 6.5% - 7% next year. (source:


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