PTPN X to Acquire Soybean Processing Factory

Jember, E Java (Antara) - State plantation company PT Perkebunan Nusantara X (PTPN X) will acquire a soybean processing factory of PT Mitra Tani Dua Tujuh in the regency of Jember, East Java. PTPN X will wholly take over PT Mitra Tani Dua Tujuh, Minister for State Enterprises Dahlan Iskan confirmed here on Tuesday. "I told PTPN X to acquire the factory as it has good prospects," Dahlan said at the University of Jember (Unej),where he was a key speaker in an interactive dialog. Dahlan visited the factory which is located at the sub-district of Kaliwates later in the day. He said the acquisition plan is still being processed, but it is expected to wrapped up this year or next year. Meanwhile, PTPN X president director Subiyono said the state company already has a 46 percent stake in PT Mitra Tani Dua Tujuh that also produces frozen vegetables for exports with PT Bahana Artha Ventura holding the remaining shares. Subiyono said the trade mark of PT Mitra Tani Dua Tujuh would be maintained after the take over and it would continue to be export oriented. "In the future we plan to diversify products with horticultural products ," he said. PT Mitra Tani Dua Tujuh has set an income target at Rp121 billion for this year exporting 5,593 tons of soybean product mainly yo Japan. (*)