KPC gets new top execs
Saturday, October 11 2003 - 12:56 AM WIB
Following completion of acquisition, KPC new owner PT. Bumi Resources had replaced KPC?s board of directors and effectively taking over the company?s top management.
KPC president director Noke Kiroyan from Rio Tinto is replaced by Bumi president director Ari S. Hudaya, with two directors positions transferred to Kenneth Farrel and Eddie J. Soebari, KPC spokesperson Nunik Maulana said Saturday.
Bumi closed KPC acquisition on Friday after paying US$ 500 million to former owners, Rio Tinto and BP Plc.
The acquisition of KPC had made Bumi, which also controls South Kalimantan coal miner PT. Arutmin Indonesia, has made the company the largest Indonesian coal producer with combined planned 2003 production of around 30 million tons, or roughly 30 percent of Indonesian coal production. (alex)