“The future of the global aluminium FRP is promising with many opportunities, and the building and construction sector is also experiencing an upward growth rate,” Mohamed Rafea, CEO, GARMCO

Mohamed Rafea joined GARMCO in April 2020 and has over 27 years of experience in the aluminium industry. Prior to joining GARMCO, Mohamed served as Chief Executive Officer at Riyadh Cable Group of Companies, Riyadh—Kingdom of Saudi Arabia. He also worked with Midal Cables Group, headquartered in Bahrain, as Chief Executive Officer, in addition to various roles within the Production and maintenance, Purchasing, Quality, and Product Development areas.

Mohamed Rafea holds an M.Sc in Engineering Business Management (MSC) from Coventry University, UK, and a B.Sc in Electrical Engineering from Texas A&M University, Kingsville, USA.

AL Circle: Can you briefly overview GARMCO's history and evolution since its establishment in 1981? What are some of the key milestones that GARMCO has achieved over the years?

Mohamed Rafea: GARMCO was conceived through a common vision of the governments of Bahrain, Saudi Arabia, Kuwait, Oman, Iraq, and Qatar to develop an aluminium rolling mill in the Middle East. GARMCO was thus established through a Legislative Decree in 1981 and started its operations in 1986. Since then, GARMCO has been achieving newer heights of success. In the late 90s, GARMCO concentrated on its expansion by establishing subsidiaries in Hong Kong, Singapore, Australia, USA, Europe, etc. In the late 2000s, the Company increased the production capacity of its foil mill. In 2017, the Company invested in its state-of-the-art Casting Facility with an investment of $55 million. Today, GARMCO has an annual turnover of approx. $ 450 million with a production capacity of 165K MT. The Company is privileged to have around 2,000 loyal customers in 45 countries and is accredited with ISO 14021:2016, ISO 9001:2015, ISO 45001:2018, ISO 14001:2015, ISO 27001:2013, ISO 22301:2012 certifications.

AL Circle: How has GARMCO's ownership structure, involving the governments of Bahrain, Saudi Arabia, Kuwait, Oman, Iraq, and Qatar, influenced its growth and strategic direction?

Mohamed Rafea: The original shareholders, being the governments of Bahrain, Saudi Arabia, Kuwait, Oman, Iraq, and Qatar, offered preferential treatment and protection to GARMCO products. In the earlier stages of the Company, these governments also agreed not to establish similar projects, thereby promoting GARMCO products. This helped GARMCO to establish a strong base in these countries. GARMCO successfully managed to gain loyal customers in these regions who have stayed with the Company till date. 

AL Circle: How will the demand for aluminium FRP grow in 2024 and beyond? Which manufacturing sectors will be the key demand drivers for aluminium FRP?

Mohamed Rafea: According to market reports and studies, the global aluminium market is forecasted to reach a CAGR of 5% to 7% in the next five years. Despite that, the automotive, aerospace, and packaging industries drive the aluminium industry. However, the future of the global aluminium FRP is promising with many opportunities, and the building and construction sector is also experiencing an upward growth rate. This sector is considered one of our key markets in addition to the machine and equipment components. Read the full interview here.