Asia Pacific Fibers Tbk

Brief of Company Background

The company was founded in 1984 and currently has two factory complexes, located in Karawang, West Java, and Kaliwungu, Kendal, Central Java. The company manufactures polyester chips, staple fiber and yarn. Through its majority owned subsidiary PT Texmaco Jaya, it also makes textile fabrics. At the end of 1995 the company annual production capacity was 50,400 tons of polyester chips, 65,000 tons of polyester filament yarn and 7,200 tons of polyester staple fiber. The company is currently engaged in a capital expenditure program to significantly expand its existing polyester chips, fiber capacity and to construct a new Purified Terephthalic Acid (PTA) production facility. The expansion program is scheduled for completion in mid-1997. Commercial production at the polyester, chip and staple fiber facilities is scheduled to commence in stages, starting in the second half of 1996. On completion of the expansion program, the total annual production capacities of the company will be 340,000 tons of TPA, 330,400 tons of Polyester Chips, 187,200 tons of Polyester Staple Fiber, and 65,000 ton of Filament Yarn. And on April 1996 the company once again floated a limited public offering that consisted of 1.104 billion shares issued at ratio 1:1. The company expects to raise Rp 522 billion fresh capital, in which 44% will supply working capital, 41% will finance factory construction, and the rest will be used to boost polyester chip and fiber production capacities.

Shareholder List

Management