Michelin and Petrokimia Butadiene Indonesia sign an agreement to produce Synthetic Rubber
On Monday, June 17, 2013 was held the Joint Venture Agreement Signing Ceremony between PT Petrokimia Butadiene Indonesia (PBI), a wholly-owned subsidiary of PT Chandra Asri Petrochemical Tbk (CAP), and the Compagnie Financière Du Groupe Michelin (Michelin) which create a Joint-Venture company, to produce Synthetic Rubber. The signing ceremony was held in Wisma Barito Pacific, Jakarta, and was attended by representatives of both parties. The Agreement was signed by Luc Minguet (Senior Vice President/ Chief Procurement Officer) and Chan Hock Sen (Vice President, Legal & Tax Services, Asia Pacific) as the representatives of Michelin, while PT Petrokimia Butadiene Indonesia was represented by Erwin Ciputra (President Director of CAP & PBI), Paramate Nisagornsen (Vice President Director of CAP & PBI), and Suryandi (Director of PBI). The synthetic rubber plant will be the first in Indonesia and will produce feedstock for the industry of environmentally friendly tire in line with the trend of eco-friendly tire usage globally.