JAKARTA (Yosefardi) – Chemical producer and distributorPT Lautan Luas Tbk (LTLS) will invest US$40 million on building new factory in Mojosari, East Java.
The new factory will boost production capacity to 60,000 tons of creamer products per year from current 20,000 tons.
The company also plans to build new warehouse at cost of Rp100 billion in Marunda, North Jakarta with storage capacity of 60,000 tons per year.
The investment will be funded by internal cash and bank loan.
LTLS booked net profit of Rp58.69 billion in first quarter of this year, surged 103.9% from Rp28.78 billion in the same period of last year.
Revenues increased to Rp1.409 trillion from previous Rp1.407 trillion. LTLS targets revenues to grow by 15-20% to Rp6.7-6.8 trillion this year. It booked revenue of Rp5.73 trillion last year.