DEWA Established Joint Venture Company with Thriveni Resomin Pte. Ltd.
JAKARTA, December 23, 2019 - PT Darma Henwa Tbk (DEWA) agreed on joint venture company establishment and consultancy cooperation with mining services company Thriveni Resomin Pte. Ltd. The agreement was signed by President Director of Darma Henwa Saptari Hoedaja dan Managing Director of Thriveni Earthmovers Pvt. Ltd. Balasubramanian Prabhakaran, at Bakrie Tower, Epicentrum, Saturday, December 21.
The joint venture agreement stated that Darma Henwa along with Thriveni will establish a joint venture subsidiary which engages in heavy equipment provision, heavy equipment maintenance, and other services. Then, the subsidiary is also expected to build an engineering excellence center in Bengalon, East Kalimantan.
Meanwhile in the mining services consultancy agreement, Thriveni will provide consulting services to Darma Henwa, to improve operational efficiencies, control and efficiency of cost, increase in production volumes as well as overall management and financial prudence. This is expected to be able to improve Darma Henwa's performance and productivity in the existing coal projects and mineral mining projects that the company will obtain in the future.
"This agreement was carried out as an effort by Darma Henwa to expand its business to maintenance, servicing, and engineering of heavy earthmoving equipment and mining machinery, also to increase performance and productivity in coal and non-coal projects," said Corporate Secretary of Darma Henwa, Mukson Arif Rosyidi.
Especially, Thriveni Group is a reputable mining contractor services in India that has been operating for more than 25 years. The company has expertise in the business of maintenance, servicing, refurbishment, rebuilding, re-engineering, re-hauling, and re-deploying heavy mining equipment and machinery.
Mukson explained a number of benefits from the cooperation between Darma Henwa and Thriveni. First, creating a prospective business expansion, provision and maintenance of heavy equipment that can support company's activities as a provider of general mining contracting services. Second, there will be a new added value in terms of machine maintenance that is more efficient and effective. Third, there will be a positive synergy along with Thriveni which can impact to the increasing competence of Indonesia mining service provider industry.
About PT Darma Henwa Tbk
PT Darma Henwa Tbk (Company) was established as a domestic investment (PMDN) company pursuant to the Law of the Republic of Indonesia, Deed No. 54, dated October 8, 1991. In July 1996, the Company changed its status to foreign investment (PMA) company as Henry Walker Group Limited acquired Company’s majority of shares. In January 2005, the Company changed its name to PT HWE Indonesia and finally to PT Darma Henwa Tbk in 2006. Under the name PT Darma Henwa Tbk, Company then became a publicly listed in 2007 with the ticker code DEWA.
Any question about this release, please contact:
Mukson Arif Rosyidi
Corporate Secretary PT Darma Henwa Tbk
Tel: (62-21) 2991 2350
Fax: (62-21) 2991 2364/65
Other related information of PT Darma Henwa Tbk can be found at www.ptdh.co.id
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