EGA named among top ¡®rapidly globalising companies¡¯

Emirates Global Aluminium (EGA) has been named one of the top rapidly globalising companies in the Boston Consulting Group (BCG) 2016 Global Challengers report.

The BCG Global Challengers report focuses on the innovative business models, strategies and challenges arising from emerging markets, said a statement from EGA.

The report is the outcome of an analytical study into how the companies in the report are performing. As with prior editions it identifies the top 100 companies that are vying for leadership of key industries and driving global economic growth, it said.

 This is EGA’s second citing, having also been included in the 2014 edition of the report, it added. EGA is one of three UAE companies included in the BCG 2016 Global Challengers report, the others being Etihad Airways and Etisalat, said a statement.

Abdulla Kalban, managing director and CEO of EGA, said: “Our company’s repeat inclusion in the report recognises the impact of our global reach in promoting the UAE across the world, as well as our substantial contribution to the nation’s economic diversification strategy to reduce dependence on the energy sector.”

“Indeed, the value-add of the aluminium industry to the UAE manufacturing sector is enormous in terms of gross domestic profit (GDP) contribution, exports and employment opportunities,” he said.

The report states that home-grown global challengers like EGA know how to win in volatile and uncertain times. Specific mention is made of their resilience during global expansion despite slowdowns in macroeconomic growth, drops in commodity and currency prices, the crash of equity markets and the rise of global geopolitical risks.

Kalban added: “This is a valued accolade, given that the global aluminium industry has been facing substantial challenges including global macro-economic uncertainty, growth slowdown in China, a stronger US dollar and falling oil prices.”

EGA is currently developing a 12 million tpa bauxite mine in Guinea, West Africa and a 2 million tpa alumina refinery in the UAE. These upstream investment projects, once complete, will not only consolidate EGA’s position as a vertically integrated business, but also secure critical resources for EGA’s midstream operations, it stated.

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