Al Saie named Garmco chairman
MANAMA: Basim Al Saie has been appointed chairman of the board of Gulf Aluminium Rolling Mill Company (Garmco), a Bahrain-based international aluminium rolling mill.
The announcement was made by Bahrain’s sovereign wealth fund Mumtalakat, which is the largest shareholder with 37.29 per cent stake in Garmco.
“Corporate governance and growth go hand-in-hand for successful business development and expansion. I’m confident that Mr Al Saie’s competence and wealth of experience will support Garmco to continue to grow and support the downstream aluminium industry in Bahrain,” Mumtalakat chief executive Mahmood Al Kooheji said.
He also thanked former chairman Mahmood Al Soufi for his contribution to Garmco’s success.
Mr Al Saie is a graduate of Mechanical Engineering from Boston University. He recently established Rentech Middle East, a company specialised in alternative energy and environmental solutions. Mr Al Saie also 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.
Mr Al Saie is a member of the executive committee of Bahrain Chamber of Commerce and Industry and a member of the Bahrain Chapter of the Entrepreneurs Organisation. He currently sits on the board of Kalaam Telecom, Gulf CX, and French Chamber of Commerce and Industry in Bahrain.
Operating one of the largest downstream aluminium facilities in the Middle East for rolling, cutting and fabricating aluminium, Garmco has 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.
With an annual turnover of $450 million, it employs 635 people of whom 85pc are Bahrainis.
The company’s most recent expansion was a $55m state-of-the-art recycling and cast house facility, which is set to increase Garmco’s production capacity of aluminium slabs to 200,000 tonnes per annum.
Source: http://www.gdnonline.com/Details/364935/Al-Saie-named-Garmco-chairman
