history of PT Bakrie Sumatera Plantations Tbk ("BSP" or
"Company") was started with "NV Hollandsch
Amerikaanse Plantage Maatschappij" which was established in
1911. In year 1986, Bakrie Group took over all the company’s
shares from Uniroyal Sumatera Plantations, a subsidiary of Uniroyal
Inc. United States of America. The name was then changed to "PT
United Sumatera Plantations". In 1992, the Company’s
name became "PT Bakrie Sumatera Plantations". Finally
in 1997, to comply with the Corporate Law and the Capital Market
Law, the Company was subsequently renamed to "PT Bakrie Sumatera
Plantations Tbk". The take-over marked Bakrie Group’s
involvement in agro-business.
The year 1990 was a historical year for the Company,
whereby it listed 30% of its shares at the Jakarta Stock Exchange
(JSX) and Surabaya Stock Exchange (SSX), using “UNSP”
as the code for the company’s stocks transaction at both exchanges.
Since 31 December 1999, the Company listed 100% of its stocks at
JSX and SSX.
As a company with a core business in rubber plantations,
BSP group produces natural rubber with various product types and
quality. In addition to being used as raw materials for tires, natural
rubber can also be developed into other range of products from rubber
thread to adhesives. The Company maintains a flexible process of
production to enable it to fulfill the various specifications required
by its clients.
To fulfill a specific niche market, the Company
has developed a unique product namely Cream Latex
NC 358, which has been marketed to manufacturers of surgical gloves,
condoms and adhesives. In addition, the Company also produces a
range of rubber products for special application, such as latex
concentrate NC 405, NC 411 and Standard Indonesian Rubber (SIR).
The Company’s natural rubber processing plant
is located in Bunut, Kisaran, North Sumatra, where it caters to
the various needs of the international market. The plant has a production
capacity of 19.1 thousand tons of Cream Latex, 13 thousand tons
of Centrifuge Latex and 16.8 thousand tons of crumb rubber per year.
In 1990, the Company expanded its core business
by establishing PT Bakrie Pasaman Plantations (Bakrie Pasaman) in
Pasaman, West Sumatera, which manages palm oil plantations. In the
following year, the Company acquired another palm oil plantations
in Jambi, namely PT Agrowiyana. In 1992, the Company converted part
of its rubber plantations in Kisaran into palm oil plantations.
The decision to enter into the palm oil industry
is based on the fact that it is a very profitable business. Palm
oil is known to be a highly productive crop in comparison to other
type of plantation commodities, and has a higher adaptability to
changes in climate.
In addition to managing nucleus estate projects,
Bakrie Pasaman and Agrowiyana also develops plasma estate projects
owned by local communities. The Plasma program is funded through
a credit scheme available for members of Primary Cooperatives (KKPA)
and supported by the government, as a means to develop plantations
owned by members of the Cooperatives. Moreover, the Company also
develops plasma estate projects under Nucleus Estate Smallholders
program (PIR-Trans) to support the transmigration program.
In 1996, the Company obtained ISO 9002:1994 international
certification on quality management system from Lloyd’s Register
Quality Assurance. Such achievement is the result of hard work and
cooperation between the management and employees of the Company.
It also indicates recognition from international standards organization
on implementation of quality management system, conducted by the
Company on maintenance and management of rubber plantations as well
as the processing of latex into other rubber products.
Bakrie Pasaman established a Palm Oil Processing
Plant in 1996 with a production capacity of 30 tons of Fresh Fruit
Bunches (FFB) per hour, which had been increased to 40 tons of FFB
per hour in 2001. The production capacity can still be increased
to 60 tons of FFB per hour.
The Company also entered into palm oil refinery
by establishing PT Kilang Vecolina in Karawang, West Java, which
began its commercial production in 2000.
Agrowiyana, in cooperation with a third party is
in the process of completing the development of a CPO mill in Jambi,
with a production capacity of 60 tons of fresh fruit bunches per
hour. This mill is scheduled to be completed within the third quarter