Asahimas Flat Glass Co. Ltd. has begun construction on its fourth float production line in Surabaya, East Java, at a cost of US$ 100 million. The Indonesian company said in a statement that the constr…
Asahimas Flat Glass Co. Ltd. has begun construction on its fourth float production line in Surabaya, East Java, at a cost of US$ 100 million. The Indonesian company said in a statement that the construction of the new manufacturing facility, initiated in January 1996, is funded by initial public offering (IPO) proceeds, internal financing and bank borrowing. The new facility will have a production capacity of 150,000 tons of float glass per year, bringing Asahimas“ total annual production capacity to 570,000 tons. Asahimas, which was listed on the Jakarta and Surabaya stock exchanges in November 1995, is now Southeast Asia“s largest flat glass producer, operating two furnaces in Jakarta and one in Surabaya. The company is a joint venture set up by the Asahi Glass Co. of Japan and Rodamas of Indonesia.