Foundation of a new subsidiary, ALUMIL GULF W.L.L. based in Manama, the capital of Bahrain.
The latter is member of the United Enterprises Group, which is soundly activated in the aluminium sector ? among other fields - with more than 6 subsidiaries all over the Gulf area, in the Middle East, in France and in the U.S.A., reaching approximately $ 55 m. Group sales annually.
New subsidiary is activated - at a starting stage - commercially, focusing on promoting further Group products in the Gulf area and technically support private and public infrastructure projects. In Bahrain there are already experienced Alumil Group officers and managers, working on a permanent basis from Greece and the Balkans.
United Enterprises Group President, Mr. Abdul Ali Al Ali and CEO Mr. R.Κ. Damani were present in the establishment of the new company, discussing further details in Thessaloniki, Greece.
ALUMIL GULF, following Group Administration's strategic plan, has already signed pre-sales contracts with Gulf area clients, in cooperation with local aluminium profiles industries, able to offer better Group results; Further market penetration will be achieved as well as larger local market shares, attributing more profits to parent Alumil shareholders.
ALUMIL S.A. is listed among the top European aluminium extrusion and profiles production group (No 1 in Greece since 2000) creating production sites, large sales networks and warehouses for products targeting architectural & industrial use, shipbuilding, transportation, etc. With 27 subsidiaries, 21 of which are spread throughout Europe, Africa and the Middle East, it offers production sites in five Hellenic industrial areas, Romania, Bulgaria, Serbia, Bosnia and Albania.
ALUMIL has successfully infiltrate d into 45 markets in Europe, the Balkans, the M. East and the U.S.A. A significant competitive advantage remains its widespread sales network in every client-country and in Greece as well. Parent company was founded in 1988 and since 1998 is listed in the Athens Stock Exchange. Included four times in GrowthPlus' Europe's 500, ALUMIL's Group sales exceeded euros 135 m in 2002, while net profits (before taxes and minority interests) exceeded euros 12 m.