Manama, November 11 (BNA): Alistor, the largest metals producer in Europe, announced the launch of the first advanced aluminum grain refineries and a major alloy production center in the Middle East in Bahrain. The center will be the Spanish company’s first offshore facility and will produce high quality aluminum alloys for use in various purposes in various industries.
ALEASTUR’s new $15 million location in the heart of the Gulf region will provide specialty alloys to global markets, including Asia, North America and the GCC. The Bahrain facility will export approximately 85% of its annual production to regional players in the industry, including aluminum smelters and casting houses.
Alistair is a portfolio company of Bahrain Mumtalakat Holding Company (“Mumtalakat”) and is considered one of the largest aluminum grain refiners in the world, and is expected to generate revenues at the new facility of approximately $53 million by 2025 as its foreign numbers increase. exports.
As part of its expansion strategy, the facility in Bahrain, which is designed to be an “ideal” hub for aluminum production, will reduce lead times and strengthen supply chains for the aluminum industry in the region and neighboring markets as global economies begin to restart and rebuild projects.
The launch of this facility is a great example of the economic recovery plan recently announced by the Kingdom of Bahrain. This supports the mandate to continue attracting investment to the kingdom, ultimately creating job opportunities for Bahrainis.
“We hope to establish a solid regional base and establish an access point from Spain to not only meet the needs of the GCC but many other regions. Bahrain’s geographical location and ease of access to some of the fastest growing markets here will provide the platform we need to realize our growth ambitions internationally.
We are excited to join our industry peers in Bahrain and look forward to benefiting from the growing aluminum hub next to Alba. Combined with our Spanish facility, the new location will be particularly well positioned for export to the Southeast Asian and Indian markets. In addition to Bahrain’s good geographic location, we will benefit from a highly skilled local workforce, strong logistics infrastructure and better value operating costs.” said Sergio Martinez, Alistair Group CEO. [SK1]
The new Alister Center is part of a broader plan, in partnership with Mumtalakat, which acquired a large stake in the company in 2016, to develop the aluminum sector in the Kingdom and enhance synergies between local manufacturers and major international players.
Commenting on the announcement, His Excellency Khalid Al Rumaihi, CEO of Mumtalakat, said: “As one of our key investments, Alistair’s presence in Bahrain will add significant value to the growing aluminum portfolio which will enable it to meet the growing demand in the aluminum sector. We look forward to seeing their operations. It is expanding and we are excited about the prospects that this next phase brings to ALEASTUR.
Bahrain is already famous in the Gulf region for its thriving aluminum trade. Alba, the Kingdom’s national aluminum manufacturer, is the world’s largest single-site smelter outside of China, producing at full capacity more than 2% of global production. Intermediate and downstream conglomerates develop rapidly around Alba, feeding on the mineral they produce. Aluminum exports accounted for about 34.2% of Bahrain’s non-oil exports in 2020, and the sector already contributes 11.1% to the GDP.
His Excellency Khalid Humaidan, CEO of the Bahrain Economic Development Board, said: “Alister’s decision to build its first international base in Bahrain, is a prime example of the Kingdom’s attractiveness in the manufacturing and logistics sectors, which we believe can be summed up in three key features: First, Our competitive operating costs are more likely to be more profitable, and secondly, free trade agreements support businesses. Last but not least, a critical key ingredient is our highly skilled workforce to run this business and keep it successful.”
Other aluminum companies operating in Bahrain include Bamco, GARMCO, Palexco and Midal Cables. The companies distribute internationally through Bahrain Free Trade Agreements with 22 countries around the world, including the United States.
NS