Strategic Growth in the Aluminium Industry
Ma’aden, the prominent mining corporation from Saudi Arabia, has reached an agreement to acquire the 20.62% stake in Aluminium Bahrain (Alba) currently owned by the Saudi chemical company Sabic. This acquisition enhances Ma’aden’s presence both regionally and globally in the aluminium sector, which is a crucial component of its ambitious growth strategy.
Expanding Ownership and Regional Integration
Ma’aden has experience in making acquisitions. Earlier this week, the company announced its plans to acquire Alcoa’s 25.1% interest in the Ma’aden joint venture, enabling it to gain complete control over the Ma’aden Bauxite and Alumina as well as Ma’aden Aluminium operations. This strategic step allows Ma’aden to unify its aluminium businesses under one umbrella.
Additionally, Ma’aden and Alba have entered into a non-binding agreement to explore a potential merger. Such a combination could result in the creation of a “vertically integrated global leader,” according to representatives from Alba.
Bob Wilt, CEO of Ma’aden, emphasized that acquiring shares in Alba aligns with the company’s long-term objectives. “As we advance on our growth path, acquiring shares in a well-established and experienced player in the aluminium market strongly supports our ambitions,” Wilt stated.
Leave a Reply
You must be logged in to post a comment.