PT. Tri Polyta Indonesia Tbk.
PT. Tri Polyta Indonesia Tbk is the largest Indonesian producer of polypropylene resins. Downstream converters use our resins in the manufacturing of a wide range of consumer products.
The Company was established in 1988 and commercial production started in 1992.
The Company market its product, under Trilene ®, trade name. The Company holds the largest domestic market shares and has started to build its existence in Asian market through export.
The plant is located in the petrochemical complex in Cilegon, West Java which consists of three trains and utilizes UNIPOL® gas-phase technology, developed by Union Carbide Corporation and Shell Chemical Company. The three trains have a combined annual capacity to produce between 360,000 to 380,000 metric ton, depending on the production mix.
PTニッショク トリポリタ アクリリンド (日本触媒とのJV解消）
PT Tri Polyta
Indonesia Tbk Announces
Progress on its Debt Restructuring
Jakarta, Indonesia (July 21,2000) -- Management of PT. Tri Polyta Indonesia Tbk. (NYSE:TPI, JSX:TPIA) announced today Oaktree Capital Management, LLC, as the general partner and/or invesment manager of certain funds and accounts it manages, Cerperus Capital Management LLC, as a manager of certain funds and accounts it manages, Principal Life Insurance Company, Marathon Asset Management, as investment manager for Marathon Special Opportunity Fund Ltd., and The Pilgrim Funds, which together own in excess of 70 percent of the Company's outstanding 11 3/8% Guaranteed Senior Notes (the "Notes"), have agreed to support a financial restructuring of the Notes, on the condition that the restructuring reflects the essential elements of the restructuring proposal announced by the Company on June 13, 2000.
As the Company previously announced on June 30, 2000, a majority of the shareholders of the Company have voted to support a restructuring incorporating these same elements at an extraordinary general meeting of the shareholders of the Company held on June 28, 2000.
The elements of the proposed restructuring are :
a. The oustanding Notes will be converted into new series of Guaranteed Secured Notes (Series A) with a principal am,ount of US$ 185,000,000.
b. The unpaid accrued interest on the Notes of US$ 31,565,625 will be converted into Guaranteed Convertible Secured Notes (Series B), convertible at any time into a total of 15% of the Company's common equity. The principal ammount of the Guaranteed Convertible Secured Notes (Series B) can be retired for a payment of US$2.00 to US$1.00 principal amount paid in cash prior to or at the closing of the debt restructuring
c. The maturity date of Guaranteed Secured Notes (Series A) and Guaranteed Convertible Secured Notes (Series B) is December 31, 2005.
d. The Company may redeem the Guaranteed Secured Notes (SeriesA) and Guaranteed Convertible Secured Notes (SeriesB) in whole prior to January 1, 2004 at a redemption price of between 77,5% to 95%, depending on the timing of the redemption
e. The interest rate on both new series of notes will be 8% and 10% in 2000 and 2001, respectively, which rates are lower than the exesing interest rate. The interest rate in 2002 to 2005 will be 11 3/8%.
f. In the event that the Company does not make the full interest payment on the Guaranteed Secured Notes (SeriesA) in 2000, 2001 and 2002, the Company will have the flexibilyty to pay only a minimum cash interest amount which is lower than the total interest. New Guaranteed Secured Notes (Series A) would be issued for difference between the total interest amount and the actual interest paid. The minimum cash interest required in 2000, 2001, and 2002 is 4%, 7%, and 9%, respectively.
g. In the event that the Company does not make the full interest payment on the Guaranteed Convertible Secured Notes (Series B), the Company will issue additional Guaranteed Convertible Secure Notes (Series B) for the amount of the interest shortfall.
h. The new notes will be fully secured on the same basis as and by the same collateral security as the exeisting Notes.
Councel for the Company is currently preparing documentation by which a restructuring will be proposed to all holders of the Notes.
PT. Tri Polyta Indonesia Tbk, is an Indonesian polypropylene manufacturer with modern facilities located in Cilegon, West Java, Indonesia.
PT Tri Polyta Indonesia Tbk Announces
The Company's Intention to Pursue the Restructuring of its
US$ 185 million 11 3/8% Guaranteed Secured Notes Due 2003Jakarta, Indonesia (June 1, 1999) - Management of PT. Tri Polyta Indonesia Tbk (NYSE : TPI, JSX : TPIA) announced today that the Company intends to pursue the restructuring of its 11 3/8% Guaranteed Secured Notes Due 2003 (Notes).
In light of the Company's poor operating results, the management has decided to pursue a restructuring of the Company's Notes. Management stated that it intends to announce soon the appointment of a financial advisor to assist in the restructuring of the Notes and would not make any further determination as to the June 1st, 1999 interest payment on the Notes until the Company has consulted with the appointed financial advisor in the restructuring.
PT. Tri Polyta Indonesia Tbk, is an Indonesian polypropylene manufacturer with modern facilities located in Cilegon, West Java, Indonesia.
PT Tri Polyta Indonesia Tbk
Announces
Tri Polyta Terminates Acrylic Acid Joint Venture
Jakarta, Indonesia (March 17, 2000) -- PT Tri Polyta Indonesia Tbk (JSX: TPIA) announced today that it has provided notice of its withdrawal from PT. Nisshoku Tripolyta Acrylindo ("NTA"). NTA is A joint venture formed in 1996 with Nippon Shokubai Co. Ltd. and Tomen Corporation to manufactu re Acrylic Acid and Acrylic Ester. Tri Polyta owns a 45% interest in NTA. NTA commenced commercial production in late 1998 and has been unprofitable.
The join venture partners have expressed their intention to buy all shares NTA owned by Tri Polyta . Tri Polyta is currently in discussions regarding the terms of such purchase and the terms on which Tri Polyta will continue to provide certain services to NTA. The timming of such purchase has not been finalized.
PT. Tri Polyta Indonesia Tbk, is an Indonesian polypropylene manufacturer with modern facilities located in Cilegon, West Java, Indonesia.
PTニッショク トリポリタ アクリリンドの株式の取得（子会社化）に関するお知らせ
当社は､平成１２年６月１９日開催の取締役会において､ＰＴ ニッショク トリポリタ アクリリンドの株式を取得し､子会社化することを決議いたしましたので､下記のとおりお知らせいたします。
１．株式の取得の理由
当社のコアビジネス事業の一層の強化ならびに国際分業の拠点化を図るため。
２．異動する子会社（ＰＴ ニッショク トリポリタ アクリリンド）の概要(１)商号 PT Nisshoku Tripolyta Acrylindo
(２)代表者 大西 隆 / President Director
(３)所在地 インドネシア共和国 ジャカルタ市
(４)設立年月日 平成８年８月２１日
(５)主な事業の内容 アクリル酸およびアクリル酸エステルの製造・販売
(６)決算期 １２月
(７)従業員数 約２４０名
(８)主な事業所 インドネシア共和国 西ジャワ州アニール
(９)資本の額 ６０，０００千米ドル
(10)発行済株式総数 ６０，０００千株
(11)大株主構成および所有割合
（株）日本触媒 ５０％
PT Tri Polyta Indonesia Tbk ４５％
（株）トーメン ５％
(12)最近事業年度における業績の動向 略
３．株式の取得先(１)商号 PT Tri Polyta Indonesia Tbk
(２)代表者 Iman Sucipto Uman / President Director
(３)本店所在地 インドネシア共和国 ジャカルタ市
(４)主な事業の内容 ポリプロピレンの製造・販売
(５)当社との関係 なし４．取得株式数、取得価額および取得前後の所有株式の状況
(１)異動前の所有株式数 ３０，０００千株（所有割合 ５０．０％）
(２)取得株式数 ２４，５４５千株（取得価額 ― ）
(３)異動後の所有株式数 ５４，５４５千株（所有割合 ９０．９％）５．日程
平成１２年６月１９日 取締役会決議
平成１２年８月上旬 株券引渡し期日６．今後の見通し
○子会社化後の連結業績見通し
平成１３年３月期は、平成１２年５月２２日に決算発表いたしました連結業績予想に基づき再試算しますと、連結売上高は１，７２２億円（２２億円の増加）、連結営業利益は７１億円（４億円の減少）、連結経常利益は５９億円（５億円の減少）、連結当期純利益は２５億円（４億円の減少）と見込まれます。