24 Apr 2018
Singapore – Natural rubber supply group Halcyon Agri Corp. Ltd has completed the purchase of four Indonesian rubber processing factories for S$86.75 million (€53.5 million), the company announced 23 April.
The acquisition includes the purchase of 100% of the issued and paid-up shares in the two companies, via Halcyon’s Anson and Hok Tong subsidiaries.
The deal adds four standard Indonesian rubber (SIR) factories, located in Pontianak, with a combined licensed annual capacity of 132 kilotonnes per annum (ktpa) to Halcyon’s operations.
Following completion, PTSD and PTSA have become indirectly wholly-owned subsidiaries of Halcyon Agri.
Combined with the acquisition of PT Pulau Bintan Djaya, announced on 8 Dec 2017, Halcyon will operate a total of 19 factories in Indonesia.
The addition of the new factories will add a total of 192ktpa to the group’s annual processing capabilities and raise capacity in Indonesia to 877ktpa.
According to Halcyon, the acquisitions are strengthening its competitive edge in the global tire majors market, and “propelling the group to become the single largest producer of SIR globally.”
Future prospects natural rubber supply will be discussed and debated at Future Tire Conference 2018, taking place 30-31 May, during the Tire Cologne international trade fair in Cologne, Germany. Click here for more information.
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