Garmco aluminum smelter plant will become the leading aluminum recycler
Gulf Aluminium Rolling Mills Company (Garmco) invested 55 million US dollars of aluminum remelting factory，which held ground-breaking ceremony in Bahrain.
The factory is a three-year project. The purpose is to improve the company’s profitability. Excavate local and international market opportunities. It is estimated that the completed in November, 2017. After the completion of the factory can produce aluminum billets of 120000t, which can provide 50 jobs. That can resulting in significant cost savings. France Fives Group and Garmco reached a engineering general contract for the project.
Zayed AL Zayani, Minister of Industry, Commerce and Tourism of Bahrain and Mathias Fekl, Minister of Foreign Trade attended the ground-breaking ceremony.
Jean-Baptiste Lucas, chief executive officer of Garmco, said: the project is consistent with the company’s overall strategic development, which will become the leading aluminum recycler, which collaboration with leading partners will further build the ability to cross global markets.
Garmco's annual output is 160,000 tonnes in Bahrain, which can produce aluminum foil of 20,000 tons. The sales were approximately $ 450 million in 2014 . But because due to weak LME prices, the sales and production fell by about 10% in 2015. which the 75% of the output sold to markets other than GCC. Last year, the United States contributed 20-25% of the sales to become the best performing market. The Middle East have 8-10% of the sales ranked second.
Garmco is trying to set up a service center in the Middle East. As for the specific address, both the Saudi Arabia and the Bahrain are considered within the scope.
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