Tira Targets to Increase Sales by 50 Percent www.kompas.com, 2006-02-02
PT Tira Austenite Tbk plans to increase its sales by 50 percent in 2006. The raise will mostly be emphasized on gas distribution business and steel business. Tira Austenite’s sales reached Rp 118 billion in 2004 and Rp 170 billion in 2005. In 2006, the company projected sales to reach Rp 250 billion. In addition, the company also projects operational profit to double to become Rp 30 billion.
Tira Austenite to Perform Right Issue for 29 Million Shares www.detikfinance.com, 2006-02-01
PT Tira Austenite Tbk plans to emit its 29 million new shares (right issue) between April and June 2006. The fund raised from the right issue will be used to pay the company’s bridging loan to Bank Niaga that was used to purchase asset and gas business package from PT Air Product Indonesia.