Jakarta Globe: "Tinplate maker PT Pelat Timah Nusantara said on Tuesday that its net income for 2009 was Rp 42 billion ($4.58 million), a 42 percent fall from 2008’s Rp 72.7 billion. Revenue fell to Rp 1.18 trillion, from Rp 1.46 trillion in 2008. Latinusa did not elaborate on the reason for the declines.
The wider steel industry, of which tinplate is a part, has been badly affected by the global economic crisis. Plunging demand, due to manufacturers such as car makers slashing production, has led to big drops in prices.
Latinusa share’s closed down 10.5 percent to Rp 255 following the announcement. The company is 55 percent owned by a Japanese consortium led by Nippon Steel Corp. PT Krakatau Steel, Indonesia’s biggest maker of the metal, holds a 20.1 percent stake. "
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