- Business
- PT Pelangi Indah Canindo Tbk (PICO.JK) manufactures and distributes a range of consumer packaging products, including polyethylene (PE) plastic bags, polyethylene terephthalate (PET) bottles, and related plastic packaging solutions; PE shopping bags, garbage bags, form fill seal (FFS) bags, and stand-up pouches for various applications; PET preforms, wide-mouth jars, and beverage bottles primarily serving the food and beverage, household, and industrial sectors. The company operates production facilities in Indonesia, with primary markets in domestic retail, consumer goods manufacturers, and export channels across Southeast Asia. Founded in 1982 and headquartered in Sidoarjo, East Java, Indonesia, PT Pelangi Indah Canindo Tbk focuses on flexible and rigid plastic packaging tailored for fast-moving consumer goods (FMCG) customers, including major brands in beverages, detergents, and personal care products.
In recent developments, the company expanded its production capacity through investments in new extrusion and injection molding lines at its Sidoarjo plant in 2024, enhancing output for PET preforms and PE films to meet rising demand from the beverage industry. PT Pelangi Indah Canindo Tbk also formed a strategic partnership with a leading Indonesian beverage producer in early 2025 for customized sustainable packaging solutions, incorporating recycled PET materials amid growing environmental regulations. Additionally, the firm completed a rights issue in late 2024, raising capital for operational upgrades and market expansion into Vietnam, marking a shift toward regional growth and sustainability-focused innovations.