SYS-CON MEDIA Authors: Pat Romanski, Gary Arora, Zakia Bouachraoui, Yeshim Deniz, Liz McMillan

News Feed Item

PT Indo Kordsa Tbk Inaugurates New Plant Worth Nearly US$ 100 million

Bogor, Indonesia, Jan 9, 2015 - (ACN Newswire) - PT Indo Kordsa Tbk has inaugurated a new plant valued at approximately US$ 100 million with production capacity of 18 kiloton for tire cord, and a production capacity of 14 kiloton for polyester yarn, located in Citeureup, on January 6, 2015. This makes PT Indo Kordsa Tbk the second largest tire producer within Kordsa Global, Turkey, in the category of companies engaged in the field of fiber raw material suppliers of tires, nylon fibers, polyester, rayon and nylon yarns for tires.

The new plant was inaugurated by the Minister of Industry of the Republic of Indonesia, Saleh Husin, and was attended by Guler Sabanci, Chairman and Managing Director of Sabanci Holding of Turkey, Cenk Alper, CEO of Kordsa Global, Ali Caliskan, Vice President Operator of Kordsa Global, Nuri Refik Duzgoren, President Director of PT Indo Kordsa Tbk, and Nurhayanti, (Acting) Regent of Bogor.

Cenk Alper said, "Indonesia is a major investment destination that we have chosen rather than other countries. The investment worth US$ 100 million is the largest investment undertaken by the company outside Turkey. With this second plant, our total investment in Indonesia has reached US$ 200 million (approximately Rp 2.5 trillion), while the total production capacity now reaches 105 million tons."

Alper added, "Since 2007 when investing the first time in the Asia Pacific region, the local and global team strives to provide added value by bringing product standards of the Kordsa Global. Our standard is improving quality, reducing costs and improving service. We have to maintain our presence in an increasingly challenging environment."

President Director of PT Indo Kordsa Tbk, Nuri Duzgoren explains, "The second factory covers an area of 24,000 hectares with production capacity of 18 kilotons of tire cord and 14 kilotons of polyester yarn. The new plant is also able to absorb 1,200 workers. We are proud to have managed to expand our plant in Indonesia, and help support the national economy and reduce unemployment rate."

Nuri added, "Currently, the exports of PT Indo Kordsa reach US$ 90.67 million or 48 percent of total sales of US$ 191 million. With additional production capacity, the exports value is expected to increase from US$ 90.67 million to US$ 130 million, while the value of sales in domestic market, given the additional supply, is expected to increase from US$ 99.37 million to US$ 141 million."

Meanwhile, President Director of Sabanci Holding, Mehmet Pakarun said that one of the reasons the company continued to expand in Indonesia is due to the labor force and tenacity of labor in Indonesia.

"The attractiveness of Indonesia is more to the presence of young entrepreneurs and the working spirit of the workforces who always want to work better every day," said Mehmet.

On the same occasion, the Industry Minister who inaugurates the new plant expresses his hope that Indo Kordsa will be more expansive in investing in Indonesia in the next few years, given that, the economy continues to grow and is getting close to the implementation of the ASEAN free trade.

"We are hoping that there will be second, third and more factories in the years to come," Husin said.

About PT Indo Kordsa Tbk PT

Indo Kordsa Tbk was established in July 1981 under the name of PT Branta Mulia (BRAM), and engages in producing tire cord, nylon fibers, polyester, rayon and nylon yarns for tires. BRAM listed on the Indonesia Stock Exchange in 1990.

In December 2006, BRAM was taken over by a large company from Turkey, called Kordsa Global. Until now, Kordsa Global has subsidiaries in 7 countries in 5 continents in the world, namely: Germany, Egypt, USA, Brazil, China, Thailand and Indonesia. In 2007, Branta Mulia (BRAM) officially changed its name to PT Indo Kordsa Tbk.

About Sabanci Holding

Sabanci Holding is the parent company of the Sabanci Group, a leading conglomerate in the financial and industry sectors in Turkey. Companies of Sabanci Group are market leaders in their respective sectors in financial service, energy, cement, retail and industrial area. Listed on Borsa Istanbul (BIST), Sabanci Holding is the controlling shareholder of 10 companies that are also listed in BIST.

Sabanci Group companies are currently operating in 18 countries and market their products throughout Europe, the Middle East, Asia, North Africa, North and South America. Having had a significant investment value in Turkey, Sabanci has experienced tremendous growth in its core businesses. Its reputation and brand image help extend its operations into the global market. Sabanci Holding multinational business partners are including leading companies such as Ageas, Aviva, Bridgestone, Carrefour, Citi, E.ON, Heidelberg Cement and Philip Morris.

Please contact:

Sisca Dumaris
Client Service - PowerPR Christovita Wiloto & Partners
Phone: +62-21 2555 6781
Fax: +62-21 2555 6782
Email: [email protected]

PT Indo Kordsa Tbk
Jl. Pahlawan, Desa Karang Asem Timur
Citeureup, Bogor, Indonesia
Phone: +62-21 875 2115
Fax: +62-21 875 3927

About PT Indo Kordsa Tbk

Source: PT Indo Kordsa Tbk

Copyright 2015 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Every organization is facing their own Digital Transformation as they attempt to stay ahead of the competition, or worse, just keep up. Each new opportunity, whether embracing machine learning, IoT, or a cloud migration, seems to bring new development, deployment, and management models. The results are more diverse and federated computing models than any time in our history.
On-premise or off, you have powerful tools available to maximize the value of your infrastructure and you demand more visibility and operational control. Fortunately, data center management tools keep a vigil on memory contestation, power, thermal consumption, server health, and utilization, allowing better control no matter your cloud's shape. In this session, learn how Intel software tools enable real-time monitoring and precise management to lower operational costs and optimize infrastructure...
"Calligo is a cloud service provider with data privacy at the heart of what we do. We are a typical Infrastructure as a Service cloud provider but it's been designed around data privacy," explained Julian Box, CEO and co-founder of Calligo, in this interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software with the simplicity and reach of the open web. With staff in 10 timezones, Isomorphic provides a global network of services related to our technology, with offerings ranging from turnkey application development to SLA-backed enterprise support. Leadin...
While a hybrid cloud can ease that transition, designing and deploy that hybrid cloud still offers challenges for organizations concerned about lack of available cloud skillsets within their organization. Managed service providers offer a unique opportunity to fill those gaps and get organizations of all sizes on a hybrid cloud that meets their comfort level, while delivering enhanced benefits for cost, efficiency, agility, mobility, and elasticity.
DevOps has long focused on reinventing the SDLC (e.g. with CI/CD, ARA, pipeline automation etc.), while reinvention of IT Ops has lagged. However, new approaches like Site Reliability Engineering, Observability, Containerization, Operations Analytics, and ML/AI are driving a resurgence of IT Ops. In this session our expert panel will focus on how these new ideas are [putting the Ops back in DevOps orbringing modern IT Ops to DevOps].
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
Most organizations are awash today in data and IT systems, yet they're still struggling mightily to use these invaluable assets to meet the rising demand for new digital solutions and customer experiences that drive innovation and growth. What's lacking are potent and effective ways to rapidly combine together on-premises IT and the numerous commercial clouds that the average organization has in place today into effective new business solutions.
Concerns about security, downtime and latency, budgets, and general unfamiliarity with cloud technologies continue to create hesitation for many organizations that truly need to be developing a cloud strategy. Hybrid cloud solutions are helping to elevate those concerns by enabling the combination or orchestration of two or more platforms, including on-premise infrastructure, private clouds and/or third-party, public cloud services. This gives organizations more comfort to begin their digital tr...
Keeping an application running at scale can be a daunting task. When do you need to add more capacity? Larger databases? Additional servers? These questions get harder as the complexity of your application grows. Microservice based architectures and cloud-based dynamic infrastructures are technologies that help you keep your application running with high availability, even during times of extreme scaling. But real cloud success, at scale, requires much more than a basic lift-and-shift migrati...
David Friend is the co-founder and CEO of Wasabi, the hot cloud storage company that delivers fast, low-cost, and reliable cloud storage. Prior to Wasabi, David co-founded Carbonite, one of the world's leading cloud backup companies. A successful tech entrepreneur for more than 30 years, David got his start at ARP Instruments, a manufacturer of synthesizers for rock bands, where he worked with leading musicians of the day like Stevie Wonder, Pete Townsend of The Who, and Led Zeppelin. David has ...
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Addteq is a leader in providing business solutions to Enterprise clients. Addteq has been in the business for more than 10 years. Through the use of DevOps automation, Addteq strives on creating innovative solutions to solve business processes. Clients depend on Addteq to modernize the software delivery process by providing Atlassian solutions, create custom add-ons, conduct training, offer hosting, perform DevOps services, and provide overall support services.