Halcyon Agri to acquire Indonesian natural rubber producer for $7m

See why it bought PT Golden Energi.

Natural rubber producer Halcyon Agri Corporation Limited today announced that it has signed a term sheet to acquire PT Golden Energi, an Indonesian natural rubber producer, for US$7 million.

PT Golden Energi is located in Sumatra’s Jambi province, one of the top 5 natural rubber exporting regions in Indonesia and the neighbouring province to South Sumatra, where Halcyon Agri’s existing operations are situated. It produces SIR20 grade rubber and has a registered annual export capacity of 18,000 tonnes, with significant scope for further upgrades and expansion.

Robert Meyer, Executive Chairman and CEO of Halcyon Agri said “With the proposed acquisition of PT Golden Energi, we continue to execute our strategy of selectively adding natural rubber assets to expand our production capacity and leverage our core business infrastructure. We see a significant opportunity to realise value for Halcyon Agri shareholders by applying our operating expertise, business model and risk management approach to PT Golden Energi”.

The acquisition is subject to the finalisation of detailed terms, due diligence and the execution of definitive documentation, and is expected to complete by the end of 2013.

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