Local manufacturer, PT Widodo Makmur Unggas builds new chicken feed plant in Ngawi, East Java. The construction of the factory covering an area of 12.7 hectares is a follow-up to the previous cooperation note with Japan’ Fuji Electric Group.
President director of the company, Ali Mas’adi, said in official statement, the new project needs cost of Rp650 billion and is scheduled to operate in 2021. the food and feed mill producers, has announced ready to offer 34% of shares (IPO) with an emission value of around Rp2 trillion in October this year.
Its parent company, Widodo Makmur Perkasa Group, engaged in integrated chicken farming, is also planning an IPO in 2021 with the same target value. The company founded by Tumiyana, former President Director of PT Wijaya Karya Tbk (WIKA), has appointed underwriters for the planned IPO, namely PT Danareksa Sekuritas, PT CGS-CIMB Sekuritas, and PT Samuel Sekuritas Indonesia.
The Jakarta-based company has eight animal husbandry locations spread across the island of Java. The construction of this feed mill, according to Tumiyana, is also one of the strategic initiatives prepared by the company ahead of Widodo Makmur Perkasa’ plan to enter the stock exchange through an IPO next year. He added, the development of the factory was to meet the company’ poultry feed needs which reached 50,000 tons per month.
While, Widodo Makmur Unggas engaged in vertically integrated chicken farming. The manufacturer divisions include feed, livestock, hatchery and slaughterhouse.