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Plans for Semen Indonesia to acquire state cement manufacturer Semen Kupang

World Cement,

According to The Jakarta Globe, the Indonesian government plans to ask Semen Indonesia to acquire its 61.48% stake in Semen Kupang, a cement producer based in East Nusa Tenggara, which deals in cement exports to East Timor and Darwin, Australia, as well as serving the local market. Bank Mandiri, which has a 35.4% share in the company, has indicated that it would also sell its stake to Semen Indonesia.

The government holds a 51% stake in Semen Indonesia, formerly known as Semen Gresik. The change in name is indicative of the cement manufacturer’s role as a holding company for state cement firms PT Semen Padang and PT Semen Tonasa.

The acquisition of Semen Kupang would aid Semen Indonesia’s expansion plans. The company has a 41% market share in Indonesia, and recently invested US$157 million in purchasing a 70% stake in Vietnam’s Thang Long Cement. It has also expressed an interest in expanding its assets in Myanmar’s cement market.

Edited from various sources by Louise Fordham.

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