Toyo Engineering Buys Stake in Indonesian Engineering Firm

Toyo Engineering Corp., announced today that it has acquired a 47% stake in PT. Inti Karya Persada Teknik (IKPT; Jakarta). IKPT, an engineering company founded in 1982, specializes in engineering, procurement and construction (EPC) work in sectors that include oil & gas; petrochemical and chemical, including fertilizers; as well as infrastructure, including offshore development; liquefied natural gas; and geothermal power generation. IKPT employs 820 people and had orders of $430 million last year. Toyo and IKPT have been collaborating on projects over the...

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