2010/07/17 朝鮮日報 ブログ
ロッテグループ系列の湖南石油化学は16日、マレーシアの石油化学大手タイタン・ケミカルズの株式72.6％を同社大株主のチャオ・グルー プ、マレーシアの国営資産運用会社プルモダラン・ナショナルの2社から取得する契約を結んだと発表した。湖南石油化学は株式公開買い付けにより、最終的に タイタンの全株式を取得する。買収代金は1兆5000億ウォン（約1080億円）が見込まれ、ロッテグループによる企業買収としては過去最大規模となる。
タイタンは昨年の売上高が16億4000万ドル（約1420億円）に達する東南アジア有数の石油化学メーカーで、マレーシアのポリオレフィン市場で40％、インドネシアのポリエチレン市場で30％のシェアをそれぞれ保有して いる。今回の買収成立で、湖南石油化学の連結売上高は、昨年の9兆ウォン（約6480億円）から12兆ウォン（約8640億円）前後に増加する見通しだ。 同社関係者は「マレーシアを中国、インドなどへの供給拠点として活用したい」と述べた。
湖南石油化学は、1兆3000億ウォン（約936億円）の手持ち現金があり、グループ他社の支援を受けず、買収資金を全額自己調達する。
Titan Chemicals Corp. Sdn. Bhd. is wholly-owned by Honam Petrochemical Corp.
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July 16, 2010 Bloomberg
Honam to Acquire Titan Chemicals for $1.25 Billion
Honam Petrochemical Corp. will acquire Malaysia's Titan Chemicals Corp. in an all-cash deal valued at $1.25 billion in South Korea's biggest overseas acquisition this year.
South Korea's second-largest ethylene maker will buy all of Titan's stock for 2.35 ringgit (73 cents) a share, the Malaysian company said in a statement today. That's a 27 percent premium to Titan's closing price of 1.85 ringgit yesterday. Honam will pay 1.5 trillion won ($1.25 billion) for the purchase, the Seoul-based company said in an e-mailed statement.
South Korean chemical companies are increasing investment overseas as a global economic recovery boosts demand for ethylene, a raw material used to make plastics and synthetic fibers. Honam said it expects the Titan acquisition to bolster its presence in Southeast Asia, China, the Middle East and Central Asia, and raise its revenue to 12 trillion won this year.
"The acquisition will help Honam become Asia's largest ethylene maker," said Yoo Young Kuk, an analyst at KTB Securities Co. "The increased ethylene output capacity will boost Honam's medium to long-term growth forecast as the global economic recovery will increase chemical demand."
The South Korean ethylene producer has enough cash reserves to finance the Titan acquisition, though it may raise some funds in the market, Roger Lee, a company spokesman, said by telephone, without specifying whether the money would be raised through debt or equity.
Honam has signed an agreement to acquire a 37.3 percent stake in Titan from Chao Group and a 35.3 percent interest from Permodalan National Bhd., Lee said. Honam is required to make an unconditional takeover offer to the remaining holders at a cash consideration of 2.35 ringgit a share, Titan said.
Overseas Sales
Shares of Honam advanced 8.8 percent to close at 161,500 won, the highest since Oct. 18, 2007. The benchmark Kospi index declined 0.7 percent. Trading in Titan was halted in Kuala Lumpur today.
Overseas sales account for 55 percent of Honam's total revenue, Lee said. The company plans to increase the ratio, he said, without giving a target.
Honam's annual capacity to produce ethylene will rise to 2.47 million metric tons after the acquisition, from 1.75 million tons currently, the company said.
Titan is Malaysia's biggest producer of olefins and polyolefins, used in making plastic parts in appliances and automobiles, and reported sales of $1.64 billion last year.
HSBC Holdings Plc is the international financial adviser for Honam and RHB Investment Bank Bhd. is the company's Malaysian adviser, the chemical producer said.
South Korea's Hanwha Chemical Corp. last year formed a venture with Saudi International Petrochemical Co. to build a 4 billion-riyal ($1.1 billion) plant in the Middle East's biggest economy.
Apr 21, 2011 (AsiaPulse via COMTEX)
Indonesia's Titan to
build US$4 bln ethylene plant
Indonesia's PT Titan Kimia Nusantara, a producer of biaxially oriented
polypropylene (BOPP) said it plans to build a new US$4 billion
ethylene plant.
Honam Petrochemical Corp of South Korea has agreed to finance
development of the factory, Titan Kimia president David Tsung
hung Chao said.
Honam agreed to provide 70 per cent of the total cost with a loan
from Korea Exim Bank to cover the rest, David said yesterday.
Feasibility study is to be completed by the end of this year and
construction will take three to four years, he said.
Titan Kimia is 95.31 per cent owned by Titan International Corp.
Sdn, which is 72.32 per cent controlled by Honam.
So far Titan has imported part of its ethylene requirement from
Singapore, Malaysia and Middle East and partly from PT Chandra
Asri Petrochemical in Cilegon, Banten.
The new factory expected to be built near the BOPP factory of
Titan in Merak, Banten, will be process naphtha into ethylene.
It also will produce BOPP.
PT. Titan Kimia Nusantara Tbk.
Established under its original name of PT Indofatra Plastik Industri on December 9, 1987, the Company changed its name into PT Fatrapolindo Nusa Industri in 1988. This name was later changed to PT Fatrapolindo Nusa Industri Tbk. in 2001, in relation to the process of listing the Company’s shares at Indonesia Stock Exchange (formerly Jakarta Stock Exchange and Surabaya Stock Exchange).
Later PT. Fatrapolindo Nusa Industri was taken over by Titan International Corp Sdn Bhd of Malaysia which acquired 97.01% of its shares. After the take over, the name of PT Fatrapolindo Nusa Industri Tbk was changed again with PT Titan Kimia Nusantara Tbk (PT. TKN) and its status became foreign investment (PMA) company. The local shareholders are PT. S/A Sampoerna Printpack (0.18%), investing public (2.12%). and other (2.99%)
November 12, 2010
Honam to undertake tender offer for PT Titan
Titan Chemicals Corp Bhd told Bursa Malaysia yesterday that Honam Petrochemical Corp will have to undertake a tender offer for all the shares publicly held in Indonesia's PT Titan Kimia Nusantara Tbk, a unit under the Titan group.
Having bought a 72.32% stake in Titan Chemicals, Honam is required under Indonesian law to buy up a 9.6% stake in the Indonesian company not owned by Titan Chemical's wholly-owned unit Titan International Corp Sdn Bhd.
Titan International Corp holds 90.4% of the issued and paid up capital of PT Titan Kimia Nusantara Tbk.
The Company is one of the producers of Biaxially Oriented Polypropylene (BOPP film) in Indonesia , with the brand name “Falene”. Falene BOPP film is produced by using high technology in plastic film industries and is one of the best films in Indonesia.
Using state-of-art technology from Mitsubishi Heavy Industries, Japan and DMT, SA - France, the Company produces variety of films, divided mainly in 4 categories, which are “Falene Plain”, “Falene Heat Sealable”, “Falene Cigarette” and “Falene Metalizable”.
All of the Company’s products are marketed directly and they are used for packaging food products, cigarettes over wraps, soap and detergent, stationery, adhesive tapes, cosmetics, audio/video cassette over wraps, packaging material for aluminum substitution (metalized film) and other products from variety of industries using plastics as main material for packaging.
PT TITAN Petrokimia Nusantara, indirect subsidiary of the Company
The company was established in 1990 by BP Chemicals Investment Limited, Mitsui & Co. Ltd and Sumitomo Corporation and PT. Arseto Petrokimia, as PT. Petrokimia Nusantara Interindo (PT. PENI). PT. PENI was the first and largest polyethylene (PE) producer in Indonesia. PE is one of world’s most widely used polymer; used to make a variety of plastic products from packaging film and containers to components for a host of industries. Following an acquisition by Titan Chemicals Corp. Sdn. Bhd. in 2006, PT. PENI became PT. TITAN Petrokimia Nusantara.
A brief history
The plant is located on a 36-hectare site in Merak, Banten province, about 120 km outside Jakarta, started with two trains, two warehouses for PE storage with a combined capacity of nearly 14,000 metric tonnes, a private jetty that can serve incoming ships of up to 10,000 DWT and Hydrogen and Nitrogen production facilities. After two years of construction, in 1993 the company commenced production of PE with two trains; total capacity 200,000 tonnes per annum. A year later in 1994, the company’s first expansion programme led to an increase in production capacity by 50,000 tonnes per annum. The company embarked on a second expansion programme in 1998 by adding a third train with a capacity of 200,000 tonnes per annum. This brought the company’s total capacity to 450,000 tonnes per annum, making it the third largest High Density Polyethylene (HDPE) and Linear Low Density Polyethylene (LLDPE) producer in South East Asia. In 2003, PT. PENI’s shareholders sold the company to the Indika Group, an Indonesian group with interests in petrochemicals, energy and mining. Three years later, on 21 March 2006 Indika sold the company to Titan Petchem (M) Sdn. Bhd,, a subsidiary of Titan Chemicals Corp. Sdn. Bhd. and was subsequently renamed PT. TITAN Petrokimia Nusantara (PT. TITAN).
About PT TITAN > Milestones
Milestones PT Titan Kimia Nusantara Tbk.
9 December 1987 Established as PT Indofatra Plastik Industri 1988 The Company changed its name into PT Fatrapolindo Nusa Industri 2001 The Company changed its name into PT Fatrapolindo Nusa Industri Tbk. in relation to the process of listing the Company’s shares at Indonesia Stock Exchange (formerly Jakarta Stock Exchange and Surabaya Stock Exchange) 21 March 2002 The Company listed its shares through Initial Public Offering in the Indonesia Stock Exchange 22 June 2002 The Company has successfully achieved ISO 9001:2000 certificate from Bureau Veritas Quality International (BVQi) Indonesia 19 October 2007 the Company established a subsidiary, namely Fatra International Holding Limited 3 January 2008 The Company undertook the Limited Public Offering I in terms of Rights Issue. January 2008 Acquired PT Titan Petrokimia Nusantara, the first and largest polyethylene producer in Indonesia. Titan International Corp holds 90.4% of the issued and paid up capital of PT Titan Kimia Nusantara Tbk.
Honam (owner of Titan) bought 9.6%
PT TITAN Petrokimia Nusantara
1991 - 1993 Construction 1993 (February - April) Production commenced with one train and production capacity of 200,000 tonnes per annum 1994 First expansion programme (Grade expansion and additional capacity 50,000 tonnes/year) 1998 Second expansion programme lead to additional capacity 200,000 tonnes per annum 1999 - present Installed capacity reached 450,000 tonnes per annum 21 April 2003 BP, Mitsui and Sumitomo sold PT. PENI to Indika Group 21 March 2006 Indika Group sold their shareholding in PT.PENI to Titan Petchem (M) sdn Bhd, a subsidiary of Titan Chemicals Corp. Sdn. Bhd.