JAKARTA. PT Alumindo Light Metal Industry Tbk (ALMI), an aluminium manufacturer under Maspion Group, will receive additional capital worth USD 15 million from Sinobec Group Canada.
Wibowo Suryadinata, Corporate Secretary of ALMI, claimed that his company has signed a cooperation agreement with Sinobec in Jakarta on August 31, 2022. This collaboration will include investments and global marketing of aluminium products.
The partnership scheme adopted by ALMI and Sinobec is a gradual private offering of shares within two years in the capital market. For the record, the investment made by Sinobec will be equivalent to 20% of ALMI’s paid-up capital.
This extra money from Sinobec will be spent on modernising and fixing ALMI’s equipment and tools. Furthermore, the investment will be further utilised to expand the access to the global market, especially the United States of America and Europe.
“With this cooperation, we wish to systematically improve the internal aspect of the company and advance further in the global and domestic markets,” Suryadinata further explained in the official release. (KR/ZH)