“We would like to thank Taco for his successful management and leadership of Almatis over the last years and especially during the process of the acquisition by OYAK.”

Prior to his appointment as CEO, Henning Stams was Almatis’ Vice President of Supply Chain and IT and served as a member of the Group’s Executive Committee from 2009.  He joined Almatis in 2004 as Chief Information Officer, with the primary responsibility for overseeing the carve-out of Almatis from Alcoa.  Previously he held a variety of different management and consultancy positions. Mr. Stams holds a Master’s Degree in Science from the University of Cologne and also serves as a judge at the Regional Court of Frankfurt.

Henning Stams stated “Our industry is currently facing challenging global market conditions.  My top priority will be to ensure that Almatis continues to be a reliable, competitive, value-adding and hence preferred solution and supply partner.  Through leveraging our strong technological knowledge, we shall further focus on offering best-fit solutions to our customers.”

Taco Gerbranda, Chief Executive Officer of Almatis, said: “We are grateful to DIC for their support and the strong partnership that we formed during their ownership period. This partnership was critical in allowing us to undertake very ambitious strategic steps that ensured the longer term stability of our company by extending our global presence, increasing capacity and becoming vertically integrated, with the single objective to better serve our customers.

Today marks the start of a new chapter for Almatis, with an owner who has expertise in our sector. This transaction positions Almatis very well to support the growth of our customers, grow with them and at the same time strengthen our leadership in the premium alumina industry. With its strong understanding of Almatis' customer needs, the market opportunities and challenges, OYAK is well placed to foster Almatis' continuous development, pursuing its long-term strategy.”

David Smoot, Chief Executive Officer of Dubai International Capital, commented: “We are extremely pleased with the outcome of the sale of Almatis. During our ownership, our close collaboration with the management team and investment in the business allowed the Group to achieve significant growth and improvements in its operations. The Group has an extremely attractive growth potential and OYAK is the right partner to support it in the next phase of its development.”

Taco Gerbranda, Chief Executive Officer of Almatis, said: “As a long-term investor, OYAK is expected to significantly strengthen Almatis' financial position and to support the Group's continued growth. This is a major milestone for Almatis and we look forward to the completion of the transaction”

Completion of the transaction is conditional upon receipt of all relevant regulatory approvals.