Intraco delays acquisition plan
Friday, January 25 2013 - 01:15 AM WIB
IDX-listed heavy equipment company PT Intraco Penta Tbk (INTA) would temporarily delay its plan to acquire coal concessions due to the current weak market of coal, Kontan reported on Friday.
The company's Finance Director Fred L. Manibog said that the company would still monitor the coal market condition before entering the coal business. "We will continue monitoring (the coal market condition). We are waiting for the right time," Fred said.
Intraco has raised its plan to enter coal business since 2011 by establishing subsidiary of PT INTA Resources to realize the plan. (*)