Indonesia’s Wika Beton pays US$23.5 million to take over CLT

According to the Company Secretary of Wijaya Beton (Wika Beton), Puji Haryadi, the construction company has paid US$23.5 million (€18.14 million) to take over 90% of shares in Citra Lautan Teduh (CLT). CLT produces pre-tensioned spun concrete pile sold under the Tekcon brand and has an output capacity of 100,000tonnes/year. The acquisition of the company in Batam will help Wika Beton to expand its business and increase its output capacity as well as marketing area.
September 23, 2014 Read time: 1 min

According to the Company Secretary of Wijaya Beton (7885 Wika Beton), Puji Haryadi, the construction company has paid US$23.5 million (€18.14 million) to take over 90% of shares in Citra Lautan Teduh (CLT).

CLT produces pre-tensioned spun concrete pile sold under the Tekcon brand and has an output capacity of 100,000tonnes/year.

The acquisition of the company in Batam will help Wika Beton to expand its business and increase its output capacity as well as marketing area.

Quarry Products

For more information on companies in this article

Related Content

April 15, 2014

Indonesia’s Wika Beton generates IDR 1.2tn from IPO

According to Enthus Asnawi, the finance manager of Wijaya Karya Beton (Wika Beton), the concrete company has generated IDR 1.2 trillion (€76.79 million) from its initial public offering (IPO).

The proceeds will be used to finance its expansion including plant expansion. Expansion will be carried to several areas including to Sulawesi, Java and Sumatra.

The state company plans to expand overseas in late 2014 in partnership with its parent company, Wijaya Karya, to Algeria as well as the Middle East an

boombox1

Highlighted Content

boombox2