Indo Kordsa Tbk.

Brief of Company Background

The Company was established in Indonesia as PT Branta Mulia in 1981 as a major supplier for the premium tire reinforcement material in Southeast Asia. The Company not only has a good image, qualified products, high professionalism, and strong commitment to provide excellent service to the customers, but also qualified human resources (HR) with great desire to do the best which have brought success to the Company up to these days.

In 1985, the Company opened its first tire cord fabric factory in Citeureup, Bogor, West Java. Afterwards, the Company started its commercial operation on April 1, 1987. The Compan’s shares were listed on the Jakarta Stock Exchange and the Surabaya Stock Exchange in 1990 in the the name of PT Branta Mulia Tbk.

Since then, many developments and value improvements have been conducted for the sake of its stakeholders, among others: in October 1990, the company expanded its business by establishing a joint venture company named Thai Branta Mulia Co. Ltd., and in 1993. In 1993, the Company opened a tire cord fabric factory in Ayutthaya, Thailand. Additionally, a new company named PT Branta Mulia Teijin Indonesia was established in the beginning of 1996 under cooperation with Teijin Limited, Japan to produce polyester tire yarns, and its production started in 1997 in Citeureup, Bogor, West Java.

In 1997, DuPont Chemical and the Energy Operation Inc. successfully acquired the Company’s shares by 19.78%. It gave a new fresh air to the Company and such cooperation created continuous strategic alliance up until January 2006. Said cooperation is ended in 2006, when DuPont sold all of its shares to several founder shareholders of PT Branta Mulia Tbk.

In 1999, the Company had its shares delisted from the Surabaya Stock Exchange.

The Company increased its shares ownership in Thai Branta Mulia Co. Ltd. from 49% to 64.19% in 2000.

In 2006, Kordsa Global AS, which is a company part of Turki Sabanci Holding Group, bought 51.3% of the Company’s shares. As of 2018, Kordsa Global has increased its shares to 61.59% and changed the name to PT Indo Kordsa Tbk.

Share ownership of the Company in PT Indo Kordsa Teijin was increased to 99.90% by purchasing Teijin Fibers Limited’s shares. PT Indo Kordsa Teijin changed its name into PT Indo Kordsa Polyester (IKP) in 2009. PT Indo Kordsa Polyester (IKP) merged with the company effective January 1, 2023 pursuant to the resolution of the Extraordinary General Meeting of Shareholders for the 2021 financial year on December 19, 2022. 

Shareholder List

Management