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29 May 2018
Mumtalakat appoints new Chairman for GARMCO

Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, announced the appointment of Basim AlSaei as Chairman of the board for Gulf Aluminium Rolling Mill Company (GARMCO), the first and one of the largest downstream aluminium facilities in the Middle East for rolling, cutting and fabricating aluminium.

A key player in Bahrain’s aluminium industry, GARMCO boasts an annual production capacity of 165,000 tonnes of high-quality flat rolled aluminium products, serving over 2,000 customers in more than 45 countries. Employing 635 people of whom 85% are Bahrainis, the company's most recent expansion with a US $55 million state-of-the-art recycling and cast house facility is set to increase GARMCO's production capacity of aluminium slabs to reach 200,000 tonnes per annum. Mumtalakat holds a 37.29% stake in GARMCO.

Welcoming this appointment, Mahmood H. Alkooheji, Chief Executive Officer of Mumtalakat said, “Corporate governance and growth go hand-in-hand for successful business development and expansion. We’re delighted to welcome Basim AlSaei as the new Chairman of the board. I’m confident that AlSaie’s competence and wealth of experience will support GARMCO to continue to grow and support the downstream aluminium industry in the Kingdom of Bahrain. At the same time, I would like to thank the former Chairman, Mahmood Al Soufi, for his valuable contribution to GARMCO’s success.”

Basim AlSaei is a graduate of Mechanical Engineering from Boston University. He recently established Rentech Middle East, a company specialised in alternative energy and environmental solutions. AlSaei played a key role in the establishment of INSTALLUX Gulf, a joint venture with a French group focused on architectural aluminium products for the Middle East. He also launched Polycon Bahrain, a company focused on the production of polyethylene water storage tanks.

AlSaei is a member of the Executive Committee of Bahrain Chamber of Commerce and Industry and an active member of the Entrepreneurship Organization Bahrain Chapter. He currently sits on the board of Kalaam Telecom, Gulf CX, and French Chamber of Commerce and Industry in Bahrain. Previously, he chaired the board of Al Raja School, Bahrain.

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