CORPORATE ACTION – JAKARTA. PT Indocement Tunggal Prakarsa Tbk (INTP) through its subsidiary, Dian Abadi Perkasa, has completed the acquisition of all shares of Semen Grobogan.
The signing of the Share Purchase Deed was carried out on Thursday (30/11), in connection with the acquisition of 345,860 shares or 100% ownership of Semen Grobogan.
“This acquisition is an important step in the plan to strengthen the footprint of cement plant and terminal locations so that Indocement can increase logistics and cement distribution cost efficiency and maintain its market share, especially in Central Java,” explained Indocement's CEO, Christian Kartawijaya, on Friday (1/12).
According to Christian, this acquisition is an important next step to strengthen Indocement's position in Central Java after INTP took over the operation of the Bosowa cement plant in Maros, South Sulawesi with a lease-to-use asset agreement to strengthen the supply market in eastern Indonesia.
INTP has also started a cement grinding unit in Banyuwangi to strengthen the market in East Java and Bali. This series of acquisitions can provide an overview of Indocement's long-term roadmap to make the distribution of Semen Tiga Roda more robust.
Semen Grobogan is a cement plant located in Sugihmanik Village, Tanggungharjo District, Grobogan Regency, Central Java, which has a production capacity of 1.8 million tons of clinker per year and 2.9 million tons of cement per year.
Semen Grobogan started commercial production in January 2022 and has had raw material supplies for more than 50 years.
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