Madiun (Antara Bali) - State Enterprises Minister Dahlan Iskan said he would merge PT Barata Indonesia and PT Boma Bisma Indra (BBI), two big state-owned engineering companies.
"Actually the right term would be acquistion and not merger. The result of my meeting with 12 president directors of state-owned companies operating in engineering on Friday night (Jan 13) is the plan to merge Barata with BBI. Our conclusion was Barata will acquire BBI," he said to newsmen at Hotel Merdeka Kota here on Saturday.
He said the decision was taken solely for effectiveness reasons. Dahlan said PT Barata has now been on the phase of consolidation while PT BBI is in the period of crystallization. So, it would be better if the two are united. Following the acquistion later PT Barata will focus on sugar factory and steel construction while PT BBI on provision of palm oil factories.
"So the two state-owned companies would focus on things needed by Indonesia at present," he said.
He said Indonesia would need hundreds of palm oil plants because so far the palm oil processing is still being carried out abroad.(IGT/T007)
COPYRIGHT © ANTARA News Bali 2012
"Actually the right term would be acquistion and not merger. The result of my meeting with 12 president directors of state-owned companies operating in engineering on Friday night (Jan 13) is the plan to merge Barata with BBI. Our conclusion was Barata will acquire BBI," he said to newsmen at Hotel Merdeka Kota here on Saturday.
He said the decision was taken solely for effectiveness reasons. Dahlan said PT Barata has now been on the phase of consolidation while PT BBI is in the period of crystallization. So, it would be better if the two are united. Following the acquistion later PT Barata will focus on sugar factory and steel construction while PT BBI on provision of palm oil factories.
"So the two state-owned companies would focus on things needed by Indonesia at present," he said.
He said Indonesia would need hundreds of palm oil plants because so far the palm oil processing is still being carried out abroad.(IGT/T007)
Editor : Nyoman Budhiana
COPYRIGHT © ANTARA News Bali 2012