DJ Semen Gresik 2010 Net Profit Likely Rose 8%-10% - CEO

Date : Feb 07 2011, 13:50
Title : News Story
Header : DJ Semen Gresik 2010 Net Profit Likely Rose 8%-10% - CEO


Story
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JAKARTA (Dow Jones)--PT Semen Gresik's (SMGR.JK) net profit in 2010 likely
rose between 8% and 10% from the previous year, Chief Executive Dwi Soetjipto
said Monday.
The state-controlled cement producer posted a net profit of IDR3.3 trillion
in 2009.
Semen Gresik expects annual capacity to hit 24 million metric tons by 2012
when it completes some of its capacity-boosting projects.
The company also plans to add a further 5 million-6 million tons of
capacity with the construction of another two plants, Soetjipto said on the
sidelines of a parliamentary hearing.
"We plan to build two more plants, one in Sumatra, the other in Java,
starting this year and next year," Soetjipto said, adding that construction of
the two plants is estimated to cost around $700 million.
Semen Gresik is Indonesia's largest cement producer by capacity and market
share, with around 45% of the domestic market share in recent years.
-By Linda Silaen, Dow Jones Newswires; 62 21
39831277;andreasismar.sandiwan@dowjones.com
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(END) Dow Jones Newswires
February 07, 2011 01:49 ET (06:49 GMT)
Copyright (c) 2011 Dow Jones & Company, Inc.- - 01 49 AM EST 02-07-11

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