Halcyon Agri buys four more Indonesian rubber factories for $105.3m

Singapore

NATURAL rubber supplier Halcyon Agri Corporation has turned into the largest producer and exporter of crumb rubber in Indonesia, as it makes another acquisition of four Indonesian crumb rubber factories for S$105.3 million in cash.

The group said on Thursday that a memorandum of agreement it entered into on Tuesday this week with the vendors Liauw Chiang Sioe and Sjahrir Iskandar to buy the entire stake in PT Sumber Djantin (PTSD) and PT Sumber Alam (PTSA) has become legally binding.