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FINANCIAL NEWS
Bahraini Garmco, MI sign MoU
09 Feb 2015
(MENAFN) Gulf Aluminium Rolling Mill Company (Garmco) has signed a memorandum of understanding (MoU) for technical and operational co-operation with Metals Industries (MI), Gulf Daily News reported.
The Bahrain-based Garmco and the Dubai-based MI are to collaborate in a number of areas encompassing operational and technical functions in order to describe prospects for mutual profit.
Garmco’s yearly revenue surpass USD450 million. Its current shareholders include Mumtalakat with a stake of 37 percent, Sabic with a 30 percent, and Industrial Bank of Kuwait with 17 percent.
“We aim to identify and assess opportunities to drive operational and technical efficiencies that will help strengthen our organizations and enable us to add greater value for our customers,” Garmco chairman said.
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