Spindo buys new machinery

IDX-listed steel maker PT Steel Pipe Industry of Indonesia Tbk (Spindo) has purchased a US$3.5 million new machinery from South Korea?s Milltech to produce steel pipe products particularly for the automotive industry, Kontan reported on Thursday.

The paper quoted company Vice President Director Tedja S. Hudianto as saying that the machinery will be installed in May, and to begin production in July, at an expected rate of 5,000 tons per month, which will increase the company?s annual output this year by 30,000 tons.

He added that a Japanese car maker in Indonesia has already expressed interest to purchase the pipe products, but declined to disclose the identity of the would-be buyer. (*)