PT pupuk indonesia energi (PIE) acquired 51% of PT kaltim daya mandiri shares worth of Rp 126.15 billion. PIE is a subsdiary of PT pupuk indonesia, a state owned enterprise meanwhile PT kaltim daya mandiri is a subsidiary of pt kaltim industrial estate.
Aas asikin, president director of Pupuk indonesia explains the intention to strengthen the synergy among PT pupuk indonesia's subsidiaries to be supplier for other private companies.
"This transaction should develop a family industry Fertilizer Indonesia and KDM. Therefore, we expect that this transaction will provide added value to the parent and KDM," said Director of Pupuk Indonesia Holding Company Aas Asikin, here on Friday.
On the sidelines of the signing of the stock purchase agreement, Aas said that the synergies between the subsidiary fertilizer Indonesia should be able to develop their own energy for Indonesian Fertilizer Group, after it was directed to the expansion of energy supply for other private companies.
"KDM must be larger to be a supplier of energy to Cleaver, Pupuk Iskandar Muda, Pusri, Petro Kimiaga Gresik, so that it can improve the performance of Indonesian Fertilizer Group as a whole," he said.
KDM is a power generation companies which supply the plant Pupuk Kalimantan Timur (PKT), with a capacity of as much as 34 megawatts of electricity KDM, 156 tons of steam per hour, and nitrogen about 500 Nm3 per hour.
Meanwhile, Director of PIE Tentaminarto say, the takeover of a majority stake by PIE is a step shareholders, who want the performance of both companies could increase.
"With a majority in KDM is expected to increase business PIE making a positive impact on the parent company," he said.
He explained that this acquisition into early commencement of business clustering program related to the provision of energy and utilities in Indonesia Pupuk environment, particularly in the industrial area of East Kalimantan.
"Synergy has become a real step to solidify and strengthen the position of Indonesian Fertilizer Group in the field of agrochemical and food," he said.
Clustering business is done to improve the competitiveness of Indonesian Fertilizer Companies Group and to support food security programs initiated by the government.
"Looking ahead, PIE will develop KDM as a pioneer IPP operation and maintenance of gas-based. For us, KDM has a strategic role in improving the PIE consolidated financial performance," he said.
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