|Our History and Background|
At incorporation all the shares were owned 100% by the Aluminium Industries Commission (now the Minerals Commission). Subsequently its shareholder base was expanded by private placing to include individuals, institutions, tertiary aluminium processing companies and banks.
The factory was built between 1982 and 1985, and was officially commissioned for production on 21st September 1985 with an installed capacity of 10,000 metric tons of various aluminium products at 70% utilisation. The plant capacity was expanded to 20,000 metric tons per annum in 1992 and to 30,000 metric tons in 2002, and operated with a workforce of about 440. Currently; the labour strength is about 265.
ALUWORKS was converted to a public limited liability company at its 9th Annual General Meeting of Shareholders held on 28th May 1996. After an Initial Public Offer (IPO) in October 1996 at the price of GH¢0.135 per share, the company was Listed on the Ghana Stock Exchange on November 29, 1996.
Bonus shares were offered in 2002 at the rate of two shares for each share held. As a result the number of shares increased from 13,893,000 prior to the award, to 41,678,000 in the hands of the public.