KS signs HRC supply deal with Kunango
Tuesday, September 2 2014 - 01:28 AM WIB
IDX-listed steel maker PT Krakatau Steel Tbk (KS) has signed an agreement with PT Kungano Jantan Steel, a Sumatra-based steel manufacturer, to among others supply steel product to the latter.
KS said in a statement obtained Tuesday that the deal was part of a broader cooperation agreement signed on August 21. Under the agreement, KS would supply Kunango with 1,500 tons of hot rolled coil (HRC) in the first stage, which would eventually increase to meet Kunango?s capacity of 3,000 tons per month.
KS also said that the cooperation agreement with Kunango, which includes the use of the latter?s warehouse facility in Sumatra, will help the steel giant in distributing products outside Java.
Editing by Reiner Simanjuntak