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Manama - Bahrain-based Gulf Aluminium Rolling Mill Company (GARMCO), one of the largest downstream aluminium facilities in the Middle East, and Mitsui & Co., Ltd. together with Perse Metals Pte Ltd today announced that they have completed a transaction, which results in Mitsui's purchase of a 25% interest in GARMCO Singapore, a company owned by GARMCO and Perse.
Headquartered in Singapore, and with subsidiaries in Thailand and China, GARMCO Singapore is one of the largest non-ferrous service centers in Southeast Asia, where it reprocesses and distributes aluminium coils and sheets, thick plates, bars, extrusions, as well as other wide range of metals products. GARMCO will remain as the majority shareholder of this joint venture.
GARMCO and Mitsui will endeavour to expand GARMCO Singapore's position as one of the market leaders in Southeast Asia's non-ferrous products servicing / distributing business by combining both GARMCO's competitiveness as one of the leading aluminium flat rolled products (FRP) manufacturers in the Middle East and Mitsui's extensive experience as a global trading, investment and service enterprise.
GARMCO Singapore board members are Mahmood Al Soufi and Graham Bruce representing GARMCO Bahrain, Yoshinori Takaserepresenting Mitsui & Co. and Alvin Tan representing Perse Metals.
GARMCO Singapore will purchase aluminium products mainly, but not limited to GARMCO, in its bid to provide a variety of non-ferrous products and continued unsurpassed services with a wide variety of reprocessing and quality needs.
Aluminium FRP areused in a variety of applications including electronics, transport, food packaging and the construction industry. The world annual demand for FRP exceeds 20 million tonnes with further growth expected in the future.
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About Mitsui & Co
Mitsui & Co., Ltd. ("Mitsui") is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 142 offices in 66 countries as of November, 2014. Utilizing our global operating locations, network and information resources, we are multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields: Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Integrated Transportation Systems, Chemicals, Energy, Food Resources, Food Products & Services, Consumer Services, Innovation & Corporate Development Business. Mitsui is actively taking on challenges for global business innovation around the world.
For more information, visit http://www.mitsui.com
About GARMCO
Established in 1981, Gulf Aluminium Rolling Mill Company (GARMCO) is one of the largest downstream aluminium facilities in the Middle East. With an annual production capacity of 160,000 tonnes, the Company specialises in producing high-quality rolled aluminium products in various sizes and alloys, including circles, sheets and coils; while a foil mill of 20,000 tonnes capacity produces semi-rigid container stock. These products are exported to key markets around the world, stretching from Australia to the USA. Accreditation to all relevant ISO, OSHAS and BCMS standards underlines GARMCO's commitment to quality, health and safety, information security, and protection of the environment. The Company employs over 900 people worldwide, and has an annual turnover exceeding US$ 450 million.
Media Contact
Ms. Hind Jamal Al-Sabbagh
Head of Corporate Communications
Office: (+973) 1773 4621
Mobile: (+973) 3992 7224
E: hind.alsabbagh@garmco.com
Mrs. Zahraa Taher
Managing Director - Finmark Communications
T +973 17 749 759
F +973 17 006 585
E info@finmarkcoms.com
W www.finmarkcoms.com
© Press Release 2015
