November 22, 2008

Mercator Lines to acquire 50 million tonne coal mine in Indonesia

Mercator Lines, the leading provider of marine transportation services, has announced that it is planning to take over 50 million ton coal mine in Indonesia. For the proposed acquisition, the company eyes to pump between USD 50 million to USD 75 million.

The sources close to the company said that Mercator is measuring acquisition deal in terms of quality of coal, coupled with the necessary infrastructure needed to transport this product. The company has rendered its Singapore based subsidiary named Mercator Lines Singapore for coal mining activities.

In fiscal 2008, the core shipping business of Mercator has contributed nearly 95% of its net profit of IDR 3.7 billion.