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PT. Posmi Steel Indonesia - History

initially named PT. Marubeni Steel Processing Indonesia (MSPI), a company establised in the scheme of PMA on 3rd April, 1996 pursuant to the Deed No. 35, Located at Kawasan Industri MM 2100, Blok H/4/1, Ganda Mekar, Cikarang Barat, Bekasi. Standing on the area of 16.000 sq.m and having its line of business in slitting and shearing of steel industry, generally called as Coil Center. Stock composition of MSPI, originally was Marubeni Corporation, a Japanese trading house, one of the biggest of trading houses in the world with 90% shares and PT. Mekar Armada Jaya, The biggest automobile body maker in Indonesia owned 10%.

In the year 2001, the company expanded its business actifity in steel stamping by being transferred one of the sister companies of Marubeni Corporation in Indonesia. Following to the expansion, Marubeni Corporation increased its share by adding the capital to become 91.8% and PT. Mekar Armada Jaya (New Armada) becomes 8.2%.

Since then, there are two divisions consisting of Coil Center Division and Steel Stamping Division in the Company

Area of Stamping Division is 8.000 sq,m, making the company’s total area to become 37,220 sq.m.

In october, 2001, Marubeni Corporation Steel Division merged with Itochu Corporation Steel Division and established a new company, named Marubeni-Itochu Steel Inc. domiciled in Tokyo, Japan. And therefore, the Shareholder’s name of the company MSPI was changed to Marubeni-Itochu Steel Inc.

In December, 2002, there was a big change, where a giant integrated steel producer in the world, POSCO and its sister company POSCO STEEL SERVICE & SALES Co., Ltd. Joined this company as new shareholders. the share composition of the company has been changed as indicated in the chart below.

Following to the change of shareholders of the company, as oh 14 January, 2003, the name of the company was changed to PT. POSMI STEEL INDONESIA.

on April 2006, POSMI’s capital has been increased from USD 8,1 million became USD 12,6 million as indicated in beside chart composition.