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Three subsidiaries of Indonesia's Karakato Steel to be listed

2019-07-30 15:47:43  【Print】
Indonesian state-owned steel producer PT Krakatau Steel plans to publicly list its three subsidiaries, PT Krakatau Tirta Industri, PT Krakatau Bandar Samudera and PT Industrial Estate, as part of its major restructuring.

Silmy Karim, president of Karakato Steel, said the company was still considering whether to optimize synergies before the initial public offering, or vice versa. He said the three subsidiaries would be listed in three years at the latest.

In addition to the public listing of its three subsidiaries, the company plans to spin off several other subsidiaries and focus on raising USD1 billion through the sale of non-core assets.

Karim said the company needed a strategic partner to help optimize its production line and expand its business and improve efficiency. Karakato Steel has spent most of this year concentrating on major restructuring to make up for losses suffered in the past six years.

PT Krakatau Steel Co., Ltd.Asian Metal Copyright In addition to the public listing of its three subsidiaries, the company plans to spin off several other subsidiaries and focus on raising USD1 billion through the sale of non-core assets.Asian Metal Copyright was founded in the 1970s.Asian Metal Copyright Karakato Steel has spent most of this year concentrating on major restructuring to make up for losses suffered in the past six years.Asian Metal Copyright It is the largest steel enterprise in Indonesia.Asian Metal Copyright was founded in the 1970s.Asian Metal Copyright Its steel production is concentrated in Cilegon, Banten.Asian Metal Copyright .Asian Metal Copyright At present, the crude steel production capacity of Karakato is 4.Asian Metal Copyright was founded in the 1970s.Asian Metal Copyright65 million tons.Asian Metal Copyright The main products include hot-rolled coils, cold-rolled coils, bars and wires, and professional steel products for special industries can also be produced through joint ventures.Asian Metal Copyright The main products include hot-rolled coils, cold-rolled coils, bars and wires, and professional steel products for special industries can also be produced through joint ventures.

.Asian Metal Copyright The main products include hot-rolled coils, cold-rolled coils, bars and wires, and professional steel products for special industries can also be produced through joint ventures.Asian Metal Copyright