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UAE's industrial champion acknowledged for resilience in volatile times
United Arab Emirates: Emirates Global Aluminium ("EGA") - the UAE's industrial champion and one of the world's top five primary aluminium producers - has been named one of the top rapidly globalizing companies in the Boston Consulting Group ("BCG") 2016 Global Challengers report. This is EGA's second citing, having also been included in the 2014 edition of the report.
The BCG Global Challengers report focuses on the innovative business models, strategies and challenges arising from emerging markets; and is the outcome of an analytical study into how the companies in the report are performing. As with prior editions, the BCG Global Challengers 2016 report identifies the top 100 companies that are vying for leadership of key industries and driving global economic growth.
"EGA's repeat inclusion in the report recognises the impact of our global reach in promoting the UAE across the world, as well as our substantial contribution to the nation's economic diversification strategy to reduce dependence on the energy sector," says Abdulla Kalban (MD & CEO of EGA), explaining that EGA's 2.4 million tonnes per annum ("tpa") production capacity makes the UAE the world's fourth largest primary aluminium producer. "Indeed, the value-add of the aluminium industry to the UAE manufacturing sector is enormous in terms of GDP contribution, exports and employment opportunities," he adds.
The BCG report states that home-grown global challengers like EGA know how to win in volatile and uncertain times. Specific mention is made of their resilience during global expansion despite slowdowns in macroeconomic growth, drops in commodity and currency prices, the crash of equity markets and the rise of global geopolitical risks.
"This is a valued accolade, given that the global aluminium industry has been facing substantial challenges including global macro-economic uncertainty, growth slowdown in China, a stronger US Dollar and falling oil prices," says Kalban. "Having been officially incorporated in Q1 of 2014, EGA is a young business. By drawing on the 40-year legacy provided by our operating assets while continuing to invest in innovation and talent we have achieved sustained success, to the benefit of our stakeholders and the UAE as a whole."
EGA's core midstream assets - Dubai Aluminium ("DUBAL", also known as Jebel Ali Operations) and Emirates Aluminium ("EMAL", also known as Al Taweelah Operations) - produce superior quality, high performance primary aluminium products for use in the electronics, aerospace, automotive, construction, industrial, transportation, packaging and printing sectors. More than 90 per cent of EGA's annual production is exported to about 300 customers in at least 60 countries, primarily in Asia, the Middle East, North Africa, Europe and the Americas.
EGA also owns Guinea Alumina Corporation ("GAC"), which is developing a 12 million tpa bauxite mine in Guinea, West Africa; and Al Taweelah Alumina, which is currently developing a 2 million tpa alumina refinery in the UAE. These upstream investment projects, once complete, will not only consolidate EGA's position as a vertically integrated business, but also secure critical resources for EGA's midstream operations. In addition, EGA has plans for significant local growth and international expansion.
EGA is one of three UAE companies included in the BCG 2016 Global Challengers report, the others being Etihad Airways and Etisalat.
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About EGA
Emirates Global Aluminium ("EGA") is a jointly-held, equal-ownership company formed by Mubadala Development Company of Abu Dhabi and the Investment Corporation of Dubai by combining their respective aluminium industry interests. EGA's core operating assets are Dubai Aluminium ("DUBAL", also known as Jebel Ali Operations) and Emirates Aluminium ("EMAL", also known as Al Taweelah Operations), whose combined production capacity of 2.4 million tonnes per annum ("tpa") places EGA among the top five primary aluminium producers in the world, by volume. The UAE-based EGA also owns Guinea Alumina Corporation ("GAC"), a strategic bauxite mine and alumina refinery development project in West Africa; and is currently developing an alumina refinery in the UAE. In addition, EGA has plans for significant local growth and international expansion.
Jebel Ali Operations, where commissioning began in 1979, operates one of the world's largest single-site primary aluminium smelters. The Jebel Ali Operations complex, built on a 4.75 square kilometre site in Jebel Ali, Dubai, comprises a 1.05 million tpa smelter, a 2,350 MW power station, a large carbon plant, extensive casting operations (more than 1.2 million tpa), a water desalination plant, dock and other facilities.
Al Taweelah Operations, where commissioning began at the end of 2009, is the world's largest single-site primary aluminium smelter. The Al Taweelah Operations complex, housed on a 6 square kilometre site in Al Taweelah, Abu Dhabi, comprises a 1.38 million tpa smelter, a 3,100 MW power station, a large carbon plant, extensive casting operations (more than 1.8 million tpa), a water desalination plant, dock and other facilities.
The EGA portfolio comprises high quality primary aluminium products in three main categories: high purity and foundry re-melt products (for electronics and aerospace and automotive applications respectively); rolled products (for packaging, lithographic sheets and the automotive industry); and billets for extrusion and forging (for construction, industrial, transportation and automotive purposes). Busbars and anode bars are also made for the electrolytic process used to produce primary aluminium from alumina ore. Over 300 customers are served in at least 60 countries, predominantly in Asia, Europe, the MENA region and the Americas.
For more information please contact:
Sahar Farhat
Senior Officer - Communications
Emirates Global Aluminium
E sfarhat@ega.ae
D +9714 802 2708
© Press Release 2016
