JAKARTA - The Extraordinary General Meeting of Shareholders (EGM) of PT Holcim Indonesia Tbk (SMCB) today (11/2) has officially approved the change of the company’s name into PT Solusi Bangun Indonesia as a follow-up to the acquisition of SMCB’s majority shares by PT Semen Indonesia Tbk (SMGR).
SMCB’s two subsidiaries, PT Holcim Beton and PT Lafarge Cement Indonesia, have also officially been renamed as PT Solusi Bangun Beton and PT Solusi Bangun Andalas.
SMCB Director Agung Wiharto said the company will continue to expand its domestic cement factory network going forward. “We will also strengthen our ready mix business with a variety of products and solutions,” he said after the EGM as quoted by Kontan.co.id.
As of January 31, 2019, SMGR has officially acquired a 80.64% stake or 6,179,612,820 shares in SMCB for around Rp 12.95 trillion. (MS)