On June 17, 2013, PT Petrok imia Butadi ene Indonesia (PBI), aa wholly-owwned subsid iary of PT
Chandra Asri Petrrochemical Tbk (CAPP), and thee Compagnie Financière Groupe Michelin
(Michelin), signed an agreemment to creeate a Joint Venture company, to produce Synthetic
Rubber. The new company will be owned 55% by Michelin and 445% by PBI .
The total Investment is estimated at US $435 million. Pending final investment decission, plant
construction is expected to commence inn early 2015 with completion and start-up targeted for
the beginning of 2017.
In line with high growth of auto industry in new emerged countries and the global trend towards
more performance requirement from tires, i.e. tires which are safer, last longer and deliver fuel
savings , the demand for more technological synthetic rubber a re forecast to increase as these
are necessary to deliver more performances in a single tire and bee at the same time
environmmentaly friendly. Michelin, leader in tire technnology, introduced the green tire iin 1992, is
innovating every day to deliver MICHELIN Total Performance.
Michelin and PBI will combine in this partnership their expertise, bring significant synergies and
create value both foor the Indonesian and South East Asian markets.
PT Petrokimia Butadiene Indonesia (PBI) iss the first Butadiene plant in Indonesia and a subsidiary of PT
Chandra Asri Petrochemical Tbk, the large st vertically integrated petrochemical company in Indonesia.
The Butadiene plant target for completion and commercial production on July 2013 .
Chandra Asri Petrochhemical complex is located at Ciwandan, Cilegon in Banten Province is Indonesia's
premier petrochemicaal plant incorporating world class, state-of-the-art technology and supporting facilities.
CAP run s the only Naphtha Cracker in Indonesia that produces high quality Ethylene, Propylene, Crude
C4, Pyrolysis Gasoline (Py-gas), Polyethylene, Polypropylene and Styrene Mono mer for the Indonesia’s
market as well as regional export markets. (www.chandra-asri.com)
Michelin, the leading tire comp any, is dedicated to sustainably im proving the mobility of goods and
people by manufacturing and marketing tires for every type of vehicle, including airplanes, automobiles,
bicycles//, earthmovers, farm equipment and trucks. It also offers electronic mobility support motorcycles,
services on ViaMichelin.com and publishes travel guides, hotel and restaurant guides, maps and road
atlases. Headquartered in Clermoont-Ferrand, France, Michelin is present in more than 170 countries, has
113,400 employees and operates 69 production plants in 18 different countries. The Group has a
Technoloogy Center in charge off research, development and process engineering, with operations in
Europe, North America and Asia. (www.michelin.com)
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This press release is not an offer to purchase or a solicitation to recommend the purchase of Michelin shares. To obtain more detailed information on Michelin, please consult the documents filed in France with Autorité des Marchés Financiers, which are also available from the www.michelin.com website.
This press release may contain a number of forward-looking statements. Although the Company believes that these statements are based on reasonable assumptions as at the time of publishing this document, they are by nature subject to risks and contingencies liable to translate into a difference between actual data and the forecasts made or inferred by these statements.