Garda, Agrocom terminate deal on coal purchase
Thursday, April 4 2013 - 06:16 AM WIB
IDX-listed PT Garda Tujuh Buana Tbk announced on Wednesday that the company has on March 15, 2013, signed termination agreement with Agrocom Ltd on a recent coal purchase deal.
The two company signed the original sales and purchase agreement on June 1, 2012. Both parties have now agreed to terminate the contract as of April 1, 2013 whereby the company has completed its obligation to sell the amount of 1,636,123 MT from a contracted amount of 3,000,000 MT of coal under the contract No. GTB-AGL-06-2012, the company said in a statement to the IDX.
All further sales to Agrocom Ltd will continue under another contract that was signed on November 16, 2012.
Agrocom Limited is a diversified commodity trading & business support services company based in the United Arab Emirates.
Editing by Adianto P. Simamora