PT UNILEVER Indonesia Tbk has confirmed to proceed producing tea bags under the popularity mark Lipton yellowish tag as the licensee of CV Sariwangi, that had announced bankrupsy. UNILEVER corporate communications general manager Eriwanto Harmanto said in Jakarta on Tuesday that Sariwangi had announced bankrupsy on March 8. The companys insolvency had not affected LIpton yellowish tag teabag production, he added
PT UNILEVER Indonesia Tbk has confirmed to proceed producing tea bags under the popularity mark Lipton yellowish tag as the
PT UNILEVER Indonesia Tbk has confirmed to proceed producing tea bags under the popularity mark Lipton yellowish tag as the licence was not revoked.
“Lipton yellowish tag is still valid,” said PT UNILEVER Indonesia Tbk deputy director of business development Arman Adrianto in Surabaya on Monday (12/1).
He explained that production would be carried out at PT Unilever ID Raya and PT Unilever Central Java Raya in Pekalongan.
“The production process will not change. Everything will be kept as usual,” he said.
licensee of CV Sariwangi, that had announced bankrupsy. UNILEVER corporate communications general manager Eriwanto Harmanto said in
UNILEVER corporate communications general manager Eriwanto Harmanto said in a press release on Tuesday, January 7 that the decision to acquire CV Sariwangi bankrupt was accepted during the 724th Limited Creditors Meeting at Graha Mitra Building in Jakarta.
“The company was formed as a joint venture between PT Unilever Indonesia Tbk (Unilever) and PT Bintang Abadi Jaya Utama (Bintang Abadi). The latter will take over all liabilities of CV Sariwangi upon acquisition,” he said.
He added that the acquisition would be conducted through an extraordinary resolution through which 100% of voting rights were transferred from Bintang Abadi to UNILEVER.
Jakarta on Tuesday that Sariwangi had announced bankrupsy on March 8. The companys insolvency had not affected LIpton yellowish tag
With regard to the insolvency status of Sariwangi, Unilever has not issued any official statement to the public. However, it is understood that Sariwangi had declared bankruptcy on February 8 and Unilever has accepted its insolvency during the 724th Limited Creditors Meeting (LCM) at Graha Mitra Building in Jakarta on March 13.
Sariwangi was established by PT Unilever Indonesia in 1978 as a subsidiary company for instant coffee production. It currently teabags bankrupt produces several brands including Lipton Yellowish Tag (Lipton Ketuk), Indomie Mi Goreng and margarine brand Florina Margarine.
teabag production, he added. CV Sariwangi is a tea provider and is a subsidiary of PT Unilever IndonesiaTbk. The decision to acquire
The decision to acquire Sariwangi is based on the belief that Unilever can bring the tea producer back to its previous glory, Unilever Indonesia’s chief executive officer Budi Susanto said.
Sariwangi produces teabags and instant coffee for family consumption, he added. CV Sariwangi is a tea provider and is a subsidiary of PT Unilever IndonesiaTbk. The decision to acquire
teabag production will not be affected, he said. However, some employees may need to be transferred because of insufficient space at Sariwangi’s factory in Kediri city on East Java island
CV Sariwangi bankrupt was accepted during the 724th Limited Creditors Meeting at Graha Mitra Building in Jakarta. According to the
CV Sariwangi is a joint venture between teabags bankrupt PT Lipton Indonesia, a subsidiary of Unilever Indonesia and PT Sinar Sosro, a leading Indonesian food company.
CV Sariwangi was established in 2010 to produce teabags under the ‘Lipton Yellowish Tag’ brand name. The company has been producing Lipton tea bags since it was established.
The bankruptcy was announced at the 724th Limited Creditors Meeting on July 22nd, 2019 at Graha Mitra Building in Jakarta. According to the announcement by CV Sariwangi’s Board of Directors:- “CV Sariwangi has decided to declare bankruptcy because its business activities have been adversely affected by market conditions.” – “This decision is due to several factors including changes in consumer preferences, which means that customers are increasingly turning away from buying packaged tea bags towards other products such as instant coffee or loose leaf tea.” – “The announcement will not affect its production process for yellowish tag teas.”
announcement, the rest of teabags would be marketed by PT Sinar Sosro Tbk after it obtained 99.98 percent shares of PT Unilever Indone-
On June 18, 2019, PT Sinar Sosro Tbk announced that it would continue to produce Lipton yellowish tag teabags under the license of PT Unilever IndonesiaTbk.
Sinar Sosro is a subsidiary company of Sinar Mas Group, which is one of the largest pulp and paper companies in Indonesia. The company has been producing various types of tea since 1994 and currently has two production lines that make more than 300 million pieces annually.
siaTbkthrough an auction process. However, director of corporate communication of PT Sinar Sosro Putu Kusumawardana has denied such spec-
“We (Unilever) have not planned to acquire PT Sinar Sosro Tbk through an auction process. However, director of corporate communication of PT Sinar Sosro Putu Kusumawardana has denied such speculations. He said that his company had obtained 99.98 percent shares of PT Unilever Indonesia through an auction process, and then PT Unilever Indonesia would be closed down by the end of this year.
“Iyan has also been reported in several news articles that he had spoken about the acquisition plan with directors from British-Dutch consumer goods giant Unilever PLC.’
ulation. He claimed that his company had never planned to acquire and operate PT Unilever Indonesia. The reason for becoming a shareh-
- PT Sinar Sosro Putu Kusumawardana has denied such speculation. He claimed that his company had never planned to acquire and operate PT Unilever Indonesia.
- The reason for becoming a shareholder was to help the Bekasi-based company develop better products, especially teabags.
older was because it wanted to obtain a business license for producing tea bags powder.(*)
PT Sinar Sosro Putu Kusumawardana in the town of Cibogo, Central Java, is currently producing teabags. The company’s production line has been shut down after its previous owner, PT Sariwangi Tbk, filed for bankruptcy protection in March 2019.
Unilever has announced that they will continue manufacturing tea bags at the factory.
The decision came after a meeting with PT Sinar Sosro Putu Kusumawardana CEO and chairman of the board of directors Budi Prayoga Putra.(*)
“We need to keep our promise,” he told reporters on Thursday (21/08).
Conclusion
In conclusion, we can say that the announcement of PT Unilever Indonesia Tbk to continue producing teabags under the popularity mark Lipton yellowish tag is a positive sign for tea lovers in Indonesia. The decision to acquire CV Sariwangi bankrupt was accepted during the 724th Limited Creditors Meeting at Graha Mitra Building in Jakarta. According to the announcement, the rest of teabags would be marketed by PT Sinar Sosro Tbk after it obtained 99.98 percent shares of PT Unilever IndonesiaTbk through an auction process. However, director of corporate communication of PT Sinar Sosro Putu Kusumawardana has denied such speculation claiming that his company had never planned to acquire and operate PT Unilever Indonesia.(*)
