United Tractors Enters into Agreement to Subscribe for a 19.99% Shareholding in Nickel Industries Limited

by CORCOM | Jun 9, 2023 | Uncategorized

Jakarta, June 9^th, 2023 – Today PT United Tractors Tbk (“the Company”) through its wholly owned subsidiary PT Danusa Tambang Nusantara, announced it has signed a Share Subscription Agreement (“SSA”) to subscribe for a 19.99% shareholding in Nickel Industries Limited (“NIC”) listed on the Australian Securities Exchange Ltd (“ASX”) (the “Transaction”). Under the SSA, NIC will issue a total of 857 million new ordinary shares to the Company at a price of A$1.10 per share for the Company’s total investment of A$943 million.  

Completion of the Transaction is conditional on satisfaction of certain conditions, including approval by NIC shareholders under the ASX Listing Rules.

NIC is a leading integrated nickel mining and processing company with its key assets located either within or in close proximity to the Indonesia Morowali Industrial Park (“IMIP”), Sulawesi and the Indonesia Weda Bay Industrial Park (“IWIP”), Halmahera. It has an 80% stake in PT Hengjaya Mineralindo (nickel mine) which is one of the largest suppliers of limonite and high-grade saprolite ore to the IMIP. NIC owns and operates majority stakes in twelve Rotary Kiln Electric Furnace (“RKEF”) lines. NIC is also expanding its battery nickel strategy through conversions of existing RKEF lines to produce class 1 nickel matte, as well as agreements to construct High-Pressure Acid Leach (“HPAL”) processing facilities, in order to supply the increasing demands of the electric vehicle battery market.

President Director of the Company, Frans Kesuma remarked, “The acquisition of a strategic minority stake in Nickel Industries is another important step in the diversification of our business. It will build our integrated nickel strategy and our broader Group’s continued expansion in the electric vehicle supply chain.”

PT Danusa Tambang Nusantara has also entered into a non-binding  agreement with the intention of participating in a direct investment into the construction of NIC’s upcoming HPAL processing facilities (“Collaboration Agreement’). The investment, if undertaken, will provide the Company with further opportunities to expand its portfolio into the production of nickel products that are critical to the development of batteries and electric vehicles. The decision of PT Danusa Tambang Nusantara to undertake the investment is subject to certain conditions precedent and completion of satisfactory due diligence by the Company.

Overall, this investment is in line with one of  the Company’s Sustainability Aspirations, that is to develop and achieve a resilient and sustainable business portfolio, especially in the non-coal related sector.

Completion of the Transaction is not conditional on PT Danusa Tambang Nusantara participating in the investment under the Collaboration Agreement.

For further information, please contact the following:

National Football Team Wins 2023 SEA Games Champion, United Tractors Provides Scania Bus Support During the Victory Parade in Bundaran HI Jakarta

by CORCOM | May 19, 2023 | Uncategorized

Jakarta, Mei 19th,2023 – Through the victory over Thailand with a score of 5-2, National Football team U-22 received its first gold medal in 32 years at the SEA Games. PT United Tractors Tbk (UT) participated in celebrating by providing Scania Bus Double Decker, starting preparation from the Transjakarta Perintis Pool, pick-up at the airport, and being a parade committee with the HI Roundabout route to Gelora Bung Karno. The Scania Double Decker Bus has two floors for long-distance transportation, sightseeing, and city buses.

“UT is very proud of the extraordinary achievements accomplished by national football team U-22 at the 2023 Sea Games. As a company that always supports the sustainability and achievements of young Indonesians, UT is pleased to be able to contribute this celebration the victory,”

UT’s Branch Operations Head Jakarta Branch, Setiawan. UT hopes this support can enliven the event and become a symbol of solidarity and a high combative spirit.

United Tractors’ Overview

PT United Tractors Tbk (UT) which is known as the largest heavy equipment distributor in Indonesia has been established since 1972. Currently, UT has grown and has six business pillars, namely Construction Machinery, Mining Contracting, Coal Mining, Gold Mining, Construction Industry, and Energy. As its contributions to the achievement of Sustainable Development targets (SDGs). UT consistently carries out activities to uphold sustainability.

ESG United Tractors

As a world-class heavy equipment, mining and energy company with more than 50 years of experience in Indonesia, UT is committed to presenting a sustainable future for Indonesia through the effective application of ESG principles by paying attention to the environment, having a good impact on society, and upholding good corporate governance. good corporate governance at all levels of its business operations, as well as optimizing its competencies, expertise, and strategic assets to bring added value to all stakeholders and the Indonesian people.

Committed to Improving Quality Education, United Tractors Received Audience of Paramadina University

by CORCOM | May 10, 2023 | Uncategorized

Jakarta, May 10th,2023 – PT United Tractors Tbk (UT) is committed to improving the quality of education in Indonesia through several initiatives. UT received the audience from Paramadina University at UT Head Office. The discussion started with a presentation about Paramadina University which is a private university in Indonesia since 1998. Furthemore, the convertation was deepened by discussing the collaboration program that will be carried out in the future.

The background of this activity is to support the maintenance of quality education and teaching, including creating a healty and comfortable learning environment. This is UT’s effort to support the sustainability of education in Indonesia through Environmental, Social, and Governance (ESG) implementation.

On the other hand, this activity is a form of UT’s commitment to be open with the world of education and to carry out various collaborations that can positively contribute to improving the quality of education in Indonesia.

The audience was attended by Edhie Sarwono (UT Director), Sara K Loebis (Corporate Secretary), Ahmad Anwari (Corpu Chancellor), Hamdan Aziz (UT School Director), and Himawan Sutanto (SRCOM Department Head) along with the Social Responsibility and Corporate Communication (SRCOM) staff.

The presence of Paramadina University is represented by Prof. Didik J. Rachbini (Rector), Wijayanto Samirin (Paramadina Waqf Foundation), Dr Fatchiah E Kertamuda, MSc (Vice Chancellor), Dr Handi Risza, SE., M.Ec (Vice Chancellor), and Kurniawaty Yusuf, M.Sc (Director of Public Relations and Cooperation). Through this activity, it is hoped that it can generate quality graduates and support Link and Match between the academic and industry worlds.

United Tractors’ Overview

PT United Tractors Tbk (UT) which is known as the largest heavy equipment distributor in Indonesia has been established since 1972. Currently, UT has grown and has six business pillars, namely Construction Machinery, Mining Contracting, Coal Mining, Gold Mining, Construction Industry, and Energy. As its contributions to the achievement of Sustainable Development targets (SDGs). UT consistently carries out activities to uphold sustainability.

ESG United Tractors

As a world-class heavy equipment, mining and energy company with more than 50 years of experience in Indonesia, UT is committed to presenting a sustainable future for Indonesia through the effective application of ESG principles by paying attention to the environment, having a good impact on society, and upholding good corporate governance. good corporate governance at all levels of its business operations, as well as optimizing its competencies, expertise, and strategic assets to bring added value to all stakeholders and the Indonesian people.