United Tractors allocates $430 m to strengthen business

Heavy equipment maker PT United Tractors disclosed Tuesday it had allocated US$430 million this year in capital expenditure to help strengthen its business with coal mines and heavy construction machinery.

“About $400 million of this will be used by our subsidiary PT Pamapersada Nusantara, and the rest will go to finance the heavy machinery business,” United Tractors finance director Gideon Hasan said.

Gideon made the remarks during the launch of three new construction machinery products: the Komatsu PC 130F-7, PC200-8 and PC 400-8 excavators, which use the Komatsu machine tracking system.

Pamapersada is a subsidiary of United Tractors whose main business is in coal mines.

United Tractors is 59.5 percent owned by PT Astra International, with the investing public controlling the remaining share.