POSCO International has completed the integration of the Indonesian palm company Sampruna Agro, which it acquired last year, and officially launched its new corporate identity as PT.PAR.
On June 18, POSCO International announced that this launch formalizes PT.PAR's new beginning and signifies the establishment of a value chain in the palm business, encompassing seed development, farm operations, and refining.
The company held the PT.PAR corporate identity launch ceremony the previous day at the Raffles Hotel in Jakarta, announcing its new direction to both domestic and international audiences.
From last year to early this year, POSCO International invested approximately 1.3 trillion won to secure management rights of Sampruna Agro. This acquisition includes palm farms spanning 128,000 hectares (approximately 317,000 acres) across Sumatra and Kalimantan, along with a seed subsidiary that holds the second-largest market share.
With this acquisition, POSCO International has completed its structure of three palm business entities in Indonesia: PT.BIA in the Papua region, PT.PAR in Sumatra and Kalimantan, and PT.ARC, a palm oil refining company co-established with GS Caltex.
The company aims to evolve beyond simple farm operations into a global food and materials platform, targeting more than double the operating profit in its palm business compared to the previous year.
A POSCO International representative stated, "The launch of PT.PAR and the corporate identity announcement mark a milestone indicating that our food business has entered a new growth phase through the expansion of production capabilities and strengthening of seed business capabilities. We will continue to enhance our business competitiveness and expand our presence in the global market."
* This article has been translated by AI.
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