Semen Gresik plans name change to raise its profile, Indonesia

State Enterprises Minister Dahlan Iskan said Indonesian state-owned Semen Gresik is set to change its name to Semen Indonesia in a bid to raise the company’s international profile.

The change is subject to approval by shareholders expected October or November this year, the minister said on Tuesday. Once the change becomes official, Dwi Doetjipto, president director of Semen Gresik, will become chief executive of Semen Indonesia.

Dahlan said President Susilo Bambang Yudhoyono of Indonesia had already approved the name change.
Semen Indonesia would group several cement makers, including Semen Padang, Semen Tonasa and Semen Rebang. Dwi said the company is working to finalise the brand change which he hoped would lift its international image and name recognition.

Earlier, the company had said it plans to start construction of a new 2-3Mta cement plant for Semen Rambang this year in Gunem sub-district, Central Java. Semen Gresik is also building a cement plant in Padang, West Sumatra, and one in Tuban, East Java.

The company also eyeing expansion into Malaysia, Vietnam and Myanmar either through acquisitions or new plant construction. It reported this week that it is hopes to start building a new plant in Myanmar in the first half of 2013.

Semen Gresik reported a 12 per cent increase in net income in the 1H12 to IDR2.1trn. Revenue increased 14 per cent to IDR8.66trn. Sales reached 10.3Mt in the first half, up 12 per cent YoY.