Since 2019, PT Sejahtera Bintang Abadi Textile Tbk (SBAT) has successfully penetrated the European market. Textile companies, one of which produces this yarn, continue to receive orders from European countries.
"Since 2019, our main product, thread for gloves has successfully penetrated the European market. Every year, we get requests from new countries in Europe, such as Russia, Estonia and Bosnia & Herzegovina. Unfortunately, we have to refuse several requests. This is due to the current limited production capacity, "said the President Director of PT Sejahtera Bintang Abadi Textile Tbk, Jefri Junaedi.
To meet the booming orders, his party will increase production capacity. Moreover, currently the company has received an additional capital of IDR 125 billion after officially signing an investment agreement with a global alternative investment group from the United States, LDA Capital, on March 17, 2021.
As the first textile company in Indonesia to use textile waste as the main raw material for making yarn, SBAT has successfully exported its products to 25 countries around the world. This company has also recently been listing on the Indonesian stock exchange since April 2020.
This investment is very important for SBAT, especially as they continue to expand their business to reach the European market.
LDA Capital has been known to devote their career to international cross-border transactions.
With the experience of more than 200 transactions on the stock market and the private sector in 42 countries, the aggregate transaction value of LDA Capital reaches more than 10 billion US dollars.
Seeing this track record, SBAT believes that this collaboration will bear fruit and become a new breakthrough for the company.
"This collaboration with LDA Capital will be a new breakthrough for PT Sejahtera Bintang Abadi Textile Tbk in order to add more production capacity and increase our market share in developed countries such as Europe," he concluded.