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 on Monday announced that they have completed a transaction which resulted in Mitsui's purchase of a 25 percent 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 endeavor 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 are used in a variety of applications including electronics, transport, food packaging and the construction industry. The world annual demand for FRP exceeds 20 million tons with further growth expected in the future. — SG
