- Business
- PT Gunung Raja Paksi Tbk (GGRP.JK), a member of Gunung Steel Group and one of Indonesia's largest private steel producers, manufactures and sells a broad range of steel products including hot rolled coils, hot rolled plates, and coil plates; downstream offerings such as ERW pipes, cold rolled coils, lipped channels, spiral pipes, welded beams, H-beams, wide flange beams, UNP channels, L-angles, T-beams, equal angles, unequal angles, rectangular hollow sections, square hollow sections, expanded mesh, cold-formed angles, bridge decks, and rectangular pipes; as well as value-added services through its Plate Service Center, Forming Services Center, and Coil Services Center encompassing cutting, drilling, shearing, stamping, and cut-to-shape processing. The company, founded in 1970 as PT Gunung Naga Mas in Medan, North Sumatra, transitioned to its current name in 1991 and listed on the Indonesia Stock Exchange in 2019, maintaining its headquarters and primary manufacturing facility on over 150 hectares in Cikarang Barat, Bekasi, West Java, Indonesia, with an annual production capacity exceeding 1.2 million tons of high-quality steel certified to local and international standards. GGRP serves domestic markets and exports to more than 30 countries worldwide, targeting construction, infrastructure, and industrial sectors with low-carbon steel initiatives like Fortise and Fortise+ emphasizing sustainable production methods. In June 2024, GGRP and affiliate PT Gunung Garuda completed a major strategic transaction selling a 95% stake in structural steel subsidiary PT Gunung Yapindo Sentosa (GYS) to a consortium of YKC Corporation, Hanwa Co. Ltd., and Sunflag Steel & Wires Ltd. for US$450 million, bolstering its balance sheet, enhancing financial flexibility, and allowing sharpened focus on flat steel products amid digital transformation and ESG-driven sustainability efforts.