PT Bakrie Sumatera Plantations Tbk is one of Indonesia’s oldest plantations companies, with a history dating back to 1911 when NV Hollandsch Amerikaanse Plantage Maatschappij opened its first rubber plantation in Kisaran, North Sumatra. In 1986, the company was acquired by Bakrie and Brothers and was subsequently renamed as PT Bakrie Sumatera Plantations. The year 1990 marked another important milestone for the company when it was successfully listed on both the Jakarta Stock Exchange (JSX) and Surabaya Stock Exchange (SSX).
Since its beginnings as a rubber plantation company, the company has grown and diversified to become one of the leading producers of both natural rubber and CPO in Indonesia. As at Dec 07, the company has under its management around 100,000 ha of oil palm and rubber plantations. The majority of its estates are currently located in Sumatra Island. The company has started to expand into the province of Central Kalimantan since early 2007 and is currently developing greenfield estates there.
The company has a long track record of successfully acquisitions. In 2007 alone, it acquired five plantations and one rubber factory. Because the deals were closed before the current surge in CPO prices, the plantations were acquired at relatively undemanding valuations. As of Dec 2007, the company has more than doubled the plantations under its management compared to the previous year. The group will continue to seek high value-add acquisitions and accelerate its greenfield development in its quest to reach 150,000ha of planted area by its centennial celebration in 2011.
2004: PT Huma Indah Mekar (rubber plantation)
2004: PT Agro Mitra Madani (CPO mill)
2005: PT Air Muring (rubber plantation & factory)
2007: PT Nibung (rubber factory)
2007: PT Sumbertama Nusapertiwi (oil palm plantation)
2007: PT Grahadura Leidung Prima (oil palm plantation)
2007: PT Guntung Idaman Nusa (oil palm plantation)
2007: Solegna BV (oil palm plantation)
2007: Great Four BFI (oil palm plantation)
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