|Press Release June 29, 2012|
Indonesian Joint Venture between Holland Colours and Gaypa Srl.
Holland Colours NV and Gaypa Srl. announce that they signed an agreement on the formation of a joint venture in Indonesia.
The joint venture - P.T. Holco Indo Jaya - will focus on the production, sales and marketing of Holland Colours’ Holcomer UHT product line. Gaypa will bring in its production and process know-how. Together with its Indonesian subsidiary – P.T. Holland Colours Asia - Holland Colours NV will have a 85% share in the joint venture and Gaypa will have the remaining 15%.
Holcomer UHT protects monolayer PET bottles against light which allows certain dairy products to be longer protected. The market for dairy products in Asia is growing fast and is expected to continue to grow, especially as a result of the growing middle class. In particular for the segment of Ultra High Temperature (UHT) dairy productssignificant growth is predicted. With this investment the company will be able to meet this growth.
After all local approvals have been granted the investment will start. The production facility will be in Surabaya and is expected to come on stream during the first half of 2013. The investment is expected to be financed from the operational cash flow.
The investment is supported by the Dutch government through its Private Sector Investment Programme (PSI).
Holland Colours NV Gaypa Srl.
Mr. R. Harmsen Mrs. M.T. Bonato
Apeldoorn, 29 June 2012
For further information:
Holland Colours NV
Profile Holland Colours NV
Holland Colours was founded in 1979 and has been listed on the NYSE Euronext Amsterdam Stock
Exchange since 1989. It is an independent Dutch corporation with offices in North America and Mexico, Europe and Asia. Holland Colours makes products for coloring synthetic materials, the main products being Holcobatch and Holcoprill. Both these products have the advantage of being free flowing, dust-free, and very easy to dose. Furthermore, Holland Colours makes pastes for coloring silicones, elastomers, PET packaging and other applications.
Holland Colours concentrates worldwide on three focus markets:
Around 80% of turnover is realized in these three markets.
Virtually the entire production is generated by our four principal plants in the Netherlands, Hungary, the United States and Indonesia.
Holland Colours is organized in three regional divisions that operate as profit centers in each specific region: Europe (including the Middle East and Africa), Americas and Asia.
The global turnover distribution is Europe 55%, Americas 30% and Asia 15%.
Profile Gaypa Srl.