United Tractors allocates $430 m to strengthen business

Heavy equipment maker PT United Tractors disclosed Tuesday that the company allocated about US$430 million this year as its capital expenditure to help strengthen its business on coal mines and heavy construction machinery.

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

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

Pamapersada is a subsidiary of United Tractor which concentrates on coal mines.United Tractors is 59.5 percent owned by PT Astra International with the investing public controlling the rest.