IMPC expands the FRP and PC markets to Australia
JAKARTA – PT Impack Pratama Industri Tbk (IMPC) extends the marketing and sales scope of fiberglass-reinforced polymer (FRP) and polycarbonate (PC) products to Western Australia.
Janto Salim, the Marketing Director of Impack Pratama Industri, reveals that IMPC has acquired assets and business of FGW Corporation Pty Ltd back in May 2021. “With this acquisition, we now secure the network reaching Western Australia,” Salim confirms through the public expose, quoted Monday (14/6).
According to Salim, this action would support the targeted revenue of IDR 1.90 trillion and the net profit of up to IDR 165.33 billion by the end of this year. In the first half of 2021, IMPC estimates the revenue to reach IDR 922.60 billion with a net profit of IDR 80.23 billion.
The FGW’s assets takeover is carried out by the subsidiary of IMPC, ImpackOne Pty Ltd, Australia, for AUSD 3 million. The fund resources for the said transaction are taken from the company’s internal cash and bank loans.
On May 27, 2021, IMPC grants a corporate guarantee to ImpackOne to cover its obligation towards the Hongkong and Shanghai Banking Corporation Ltd (HSBC) regarding the existing credit facility. Within this corporate guarantee provision, there is an additional credit facility of AUSD 3 million to the previous AUSD 5.5 million, thus adding up to AUSD 8.5 million in total. (LK/ZH)