State-owned subsidiary PT Krakatau Steel, PT KHI Pipe Industrie (KHI) plans to release some of its shares to the public through an initial public offering or initial public offering (IPO) in 2008. “KHI Pipe IPO will be held no later than the first semester of 2008,” said Fazwar Bujang. , President Director of Krakatau Steel, after his inauguration ceremony in Jakarta, November 2007.
KHI was founded in 1972 and started its commercial products in January 1973. KHI shares ownership by PT KS is 98.48% and 1.52% owned by PT Indhasana.
Currently KHI has a spiral weld pipe production capacity of 150,000 tons per year, consisting of a Sprial weld pipe production capacity of 80,000 tons per year and an ERW (Electric Resistance Welded) straight weld pipe capacity of 70,000 tons per year.
In March 2007, KHI has signed a steel pipe export contract to Malaysia of 5,500 tonnes worth USD 4.3 million. The contract signing was carried out with Shin Yang Group of Companies, which is one of the major Malaysian companies. Previously, KHI had also exported pipes to several other countries, such as Singapore, Vietnam, Australia and the Netherlands.
President Director of KHI Setiawan Surakusumah stated that his party is constantly increasing the capacity and capability of the company so that it becomes an integrated pipe mill.
Source: Business Overview