Jakarta, Indonesia (BBN)-PT Semen Indonesia is trying to complete the acquisition of a Bangladesh cement company in the near future, said Johan Samudra, the director of Business Development and Strategy of PT Semen Indonesia.
“As a business, the acquisition of the Bangladesh cement company is the best opportunity to be closing soon, and we have to be the majority shareholder,” he told the President Post on the sidelines of the State Owned Enterprises Forum in Jakarta last week.
Samudra added that there is the possibility that Semen Indonesia would acquire more than one existing producer in Bangladesh.
Indonesia's largest cement producer is looking to further expand its Southeast Asian footprint, having already established a presence in Vietnam through the acquisition of Thang Long Cement in late 2012.
However, its plans to move into Myanmar have reportedly hit a stumbling block due to prolonged negotiations with its local partner.
The deal was expected to be concluded at the end of this year, but the expansion plans may now have to be postponed until next year, according to the company.
BBN/ANS-02Sept14-8:20pm (BST)