Chairman's Message |
I am pleased to welcome you to Foulath Holding, an investment and management company headquartered in the Kingdom of Bahrain. In our own right and through our subsidiaries we have assets of USD2.4 billion and a workforce of 1,100 people. We apply our resources to the profitable development of our operations. We seek growth in our own interests, while also stimulating the prosperity of the whole iron and steel sector in the region, supporting downstream fabrication and the construction market. In this we place the highest priority on conducting operations with safety, both in terms of consideration to the protection of the environment and the well-being of our staff and communities. Our Bahrain Steel subsidiary is the largest merchant iron ore pelletizer in the world whose twin plants have a rated annual output capacity of 12 million tons. As a merchant pelletizer unattached to any mine, Bahrain steel is able to select the best pellet feed in the market. The company's plants are highly automated and we employ innovative solutions in the seaborne import of raw material and export of finished goods. Our SULB joint venture with Yamato Kogyo, has extensive, state-of-the-art operations in Bahrain, plus rolling mills in Bahrain and in Jubail, Saudi Arabia. SULB's DRI operation has an output of 1.6 million tons a year, while its melt shop produces 1.1 million tons. The rolling mills in Bahrain and Jubail sell a wide range of high-quality finished steel beams, columns, angles, channels, billets, flat bars and DRI. The founders and shareholders of Foulath have set ambitious aspirations for the company. Foremost is to create secondary and tertiary industrial operations able to supply top quality iron and steel products to the MENA region. We are tasked to continuously invest, introduce improvements, raise quality standards and industrial output to meet growing demand from further afield. Today, we are a global company selling to customers in all the continents. In turn, these achievements have helped diversify the local economy in the Gulf while building local expertise in advanced technological processes and equipment, creating employment and helping in wealth generation for our communities. It is estimated that Foulath and its subsidiaries contribute up to 5% to Bahrain's GDP. We are an incubator of local talent, bringing engineering graduates through our training programmes to enrich both our own operations and others in Bahrain and beyond. All manufacturing and business operations are carried out to the highest standards in terms of quality products, environmental protection and personal safety. Sincerely, MESHARY AL-JUDAIMIChairman of Foulath and Bahrain Steel |