Aluworks is a manufacturing company based in
Tema
Tema is a city on the Bight of Benin and Atlantic coast of Ghana. It is located east of the capital city; Accra, in the region of Greater Accra, and is the capital of the Tema Metropolitan District. As of 2013, Tema is the eleventh most p ...
,
Greater Accra
The Greater Accra Region has the smallest area of Ghana's 16 administrative regions, occupying a total land surface of 3,245 square kilometres. This is 1.4 per cent of the total land area of Ghana. It is the most populated region, with a popul ...
. It was founded on February 24, 1978, and was converted to a
public limited liability company on May 28, 1996.
After an
Initial Public Offer in October 1996, it was listed on the
Ghana Stock Exchange on November 29, 1996, at the share price of GH¢ 0.135.
The company is a component listing of the
GSE All-Share Index. It is the only company in Ghana that casts and processes aluminium ingots.
Operations
Aluworks makes aluminium sheets, coils, corrugated roofing, and louver blades from raw aluminium
ingots
An ingot is a piece of relatively pure material, usually metal, that is cast into a shape suitable for further processing. In steelmaking, it is the first step among semi-finished casting products. Ingots usually require a second procedure of sh ...
.
In 2021, the Chairman of the company was Lade Wosomu.
Controversy
In 2020, the management of the company accused Sunda International and Yai Tin International of importing subsidized aluminium coils and circles into Ghana. The company also accused them of reduction of prices and abuse of the 5% duty rates. The company petitioned the Ghana government, citing dumping, trade in cheap goods, and price undercutting.
Suspension
In 2017, the company was put on a watch list by the Ghana Stock Exchange.
In 2018, the company again was threatened by the Ghana Stock Exchange to be delisted due to lack of compliance.
In 2023, the Ghana Stock Exchange suspended the listing status of the company due to the company's failure to submit its audited accounts for 2022 and its financial statements for 2023.
References
External links
Aluworks Limited Stock QuoteAluworks Ltd at Gold Coast Securities
Ghanaian brands
Aluminium companies of Ghana
Manufacturing companies established in 1978
1978 establishments in Ghana
Companies listed on the Ghana Stock Exchange
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