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Mulia Industrindo: sales increase in 1999

Indonesian glass and ceramics producer PT Mulia Industrindo Tbk said its total sales in 1999 rose 29% to Rp 1.39 trillion.
It said total sales volume in float glass, bottles and containers increased …

Indonesian glass and ceramics producer PT Mulia Industrindo Tbk said its total sales in 1999 rose 29% to Rp 1.39 trillion. It said total sales volume in float glass, bottles and containers increased to 527,678 tonnes in 1999 from 436,606 tonnes in 1998, while ceramics sales rose to 35.1 million pieces from 24.8 million in 1998. Glass products contributed around 58% to total sales while ceramics contributed around 42%. “The company was also able to lift its export sales in 1999, with float glass export volume contributing 66% of the total sales volume,” Mulia Industrindo said in a statement. Mulia also said negotiations were under way with creditors to restructure a total of US$ 550 million in debt, and it hoped to reach a deal in the first quarter. In July last year the company said it had reached a standstill agreement with creditors on US$ 225 million of floating rate notes.

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