Canadian-headquartered global leader in aluminum joins DMCC
Dubai Multi Commodities Centre (DMCC) announced that it has welcomed its 1,000th member company – a milestone that was reached just five years after the centre was established.
Alcan Middle East, the regional representative of Alcan Inc., a multinational, market-driven global leader in aluminum and packaging, has been registered as the DMCC’s 1,000th member company. Headquartered in Canada, Alcan Inc. adds a new dimension to DMCC, as it brings one of the leading global aluminium companies to Dubai.
‘Dubai has become the preferred destination for commodities trading in the region, backed by the UAE’s growing importance regionally and worldwide,’ said Dr. David Rutledge, Chief Executive Officer, DMCC.
‘Attracting 1,000 members in just five years since the launch of DMCC is an extremely strong statement of confidence by members of the global commodities trade. It is also a clear indication of DMCC’s crucial role in the region’s rapidly changing business environment.’
He added: ‘We are pleased to welcome Alcan Middle East into the DMCC family, and are confident that it will add significant value to the DMCC member base. Alcan has a strong global presence, and a balanced portfolio of upstream and downstream assets.’
Operating in 61 countries worldwide, Alcan Inc posted US$24 billion revenues in 2006. Alcan has been named the industry champion for metals in Fortune Magazine’s ‘World’s Most Admired Companies’ list in 2007, in addition to being ranked the top company in Canada. Of more than 1,000 largest global companies surveyed, Alcan ranked second for its efforts in the community and the environment, and sixth for its globalness.
Alcan was also selected as a ‘Super sector Leader’ on the Dow Jones Sustainability World Index in 2005. This identification is based on a defined set of criteria and weightings to assess opportunities and risks deriving from economic, environmental and social developments and rank companies within their industry group.
Commenting on the occasion, Michel Jacques, President and CEO of Alcan Primary Metal Group, said: ‘It is a privilege to join the DMCC as its 1,000th member. With our newly established presence at DMCC we aim to capitalize on the phenomenal growth in the region, driven by its competitive energy resources, well-developed infrastructure and prime geographic location. The Gulf region is one of the key focus areas for Alcan as we look to future growth opportunities.’
‘Alcan ME will be the regional office in charge of all aspects of Alcan business and governance, and will conduct a broad range of business activities across the region, including focusing on the company’s growth initiatives and current and upcoming business activities,’ he added.
Ms Gaiti Rabbani, Chief Sales and Marketing Officer, DMCC, said: ‘We are pleased that Alcan has chosen Dubai and the DMCC as the platform for expanding its business footprint in the region. As a DMCC member, Alcan ME joins an impressive member list, which includes well known international names like Cargill, Totsa, Vopak, Reliance, PAMP Gold, Christies, Rosy Blue and Al Rosa.’
With this registration, DMCC’s member community, representing a broad spectrum of commodity sectors, has reached the 1000 mark. The Centre’s member base currently comprises 31 per cent gold and precious metals; 36 per cent diamonds and coloured stones, 21 per cent commodities (agricultural, metals, etc) and 9 per cent energy. Industry services make up the final 3 per cent.
