The
Company was established in Indonesia as PT Branta Mulia in 1981 as a
major supplier for the premium tire reinforcement material in Southeast
Asia. The Company not only has a good image, qualified products, high
professionalism, and strong commitment to provide excellent service to
the customers, but also qualified human resources (HR) with great desire
to do the best which have brought success to the Company up to these
days.
In
1985, the Company opened its first tire cord fabric factory in
Citeureup, Bogor, West Java. Afterwards, the Company started its
commercial operation on April 1, 1987. The Compan’s shares were listed
on the Jakarta Stock Exchange and the Surabaya Stock Exchange in 1990 in
the the name of PT Branta Mulia Tbk.
Since
then, many developments and value improvements have been conducted for
the sake of its stakeholders, among others: in October 1990, the company
expanded its business by establishing a joint venture company named
Thai Branta Mulia Co. Ltd., and in 1993. In 1993, the Company opened a
tire cord fabric factory in Ayutthaya, Thailand. Additionally, a new
company named PT Branta Mulia Teijin Indonesia was established in the
beginning of 1996 under cooperation with Teijin Limited, Japan to
produce polyester tire yarns, and its production started in 1997 in
Citeureup, Bogor, West Java.
In
1997, DuPont Chemical and the Energy Operation Inc. successfully
acquired the Company’s shares by 19.78%. It gave a new fresh air to the
Company and such cooperation created continuous strategic alliance up
until January 2006. Said cooperation is ended in 2006, when DuPont sold
all of its shares to several founder shareholders of PT Branta Mulia
Tbk.
In 1999, the Company had its shares delisted from the Surabaya Stock Exchange. The Company increased its shares ownership in Thai Branta Mulia Co. Ltd. from 49% to 64.19% in 2000.
In 2006, Kordsa Global AS, which is a company part of Turki Sabanci Holding Group, bought 51.3% of the Company’s shares. As of 2018, Kordsa Global has increased its shares to 61.59% and changed the name to PT Indo Kordsa Tbk.
Share
ownership of the Company in PT Indo Kordsa Teijin was increased to
99.90% by purchasing Teijin Fibers Limited’s shares. PT Indo Kordsa
Teijin changed its name into PT Indo Kordsa Polyester (IKP) in 2009. Indo Kordsa (BRAM) History
