Aluminium Bahrain B.S.C. (Alba), one of the world’s largest aluminum smelters, entered into an exclusive agreement with AIP VII Europe S.a.r.l., a wholly owned subsidiary of AIP Fund VII, managed by American Industrial Partners (AIP), under which Alba will acquire 100% of Aluminium Dunkerque, the European Union’s largest primary aluminum smelter.
“Building on Alba’s position as a global supplier serving five continents, this transaction represents a bold and forward-looking step in our strategic roadmap to build a globally connected, low-carbon aluminum platform with operational strongholds in the GCC and Europe,” said Khalid Al Rumaihi, chairman of Alba. “By combining Alba’s and Aluminium Dunkerque’s established strengths, we intend to create a new industrial powerhouse for cross-regional collaboration rooted in shared values and a commitment to innovation and responsibility. As global aluminum demand accelerates, this partnership will enable Alba and Aluminium Dunkerque to build an integrated platform that will capture compelling market opportunities while contributing to Europe’s industrial resilience and the global decarbonization agenda.”
Largest European Smelter
Based in Loon-Plage in the Dunkerque region, the Aluminum Dunkerque smelter was founded in 1991 in Northern France. GFG Alliance (Liberty France Industries) acquired the smelter in 2019, and later sold it to AIP in 2021.
Under AIP’s ownership, and thanks to the leadership of an experienced management team and the commitment of its highly skilled employees, Aluminium Dunkerque transformed its operational reliability and energy efficiency, strengthened its financial performance, secured long-term electricity supply agreements with EDF and others, invested in productivity and modernization, and reinforced its position as one of the lowest-carbon primary aluminum producers in Europe.
Today, the facility produces ~300,000 tonnes of aluminium per year in the form of aluminum slabs and ingots with over 99% purity. With advanced automation, integrated production capabilities, and a robust foundation of skilled talent, the smelter is well positioned to benefit from Europe’s growing demand for sustainably produced aluminum.
Aluminium Dunkerque stands as a strong, competitive, and future-ready industrial platform, serving strategic sectors including automotive, aerospace, defense, construction, and packaging, in France and throughout Europe. The proposed transaction marks an important new chapter for the smelter and secures a long-term industrial owner committed to its continued development in France and Europe.
“Over the past five years, American Industrial Partners has been a supportive partner to Aluminium Dunkerque’s management as we re-established our company as a top industrial performer,” said Guillaume de Goÿs, CEO and president of Aluminium Dunkerque. “Today, we look forward to welcoming Alba as our new long-term industrial owner. As one of the world’s leading primary aluminum producers, Alba brings deep technical expertise, operational excellence, and a clear commitment to low-carbon aluminum production that aligns perfectly with our ambitions. This new chapter will provide us with many new opportunities, along with the financial and technical resources to continue investing, innovating and reinforcing Aluminium Dunkerque’s role in France and Europe.”
Proposed Acquisition
Alba intends to pursue a long-term industrial strategy anchored in France and led locally, focused on operational stability, continued investment and sustainable innovation. The proposed transaction would bring Alba and Aluminium Dunkerque together to form a geographically diversified industrial group with an operational footprint across regions, expanding both companies’ global customer base.
Alba brings decades of experience operating large-scale smelting facilities, deep technical expertise, and a disciplined capital approach, backed by a stable long-term shareholder base. In acquiring Aluminium Dunkerque, Alba commits to ensuring the continuity of its existing operations, preserving employment and critical industrial capabilities, reinforcing low-carbon production, and supporting France’s and Europe’s energy transition and industrial sovereignty objectives. Alba further commits to maintaining Aluminium Dunkerque’s established standards of safety, reliability, and operational excellence.
Aluminium Dunkerque’s strategic European location, advanced industrial capabilities, and attractive energy profile complements Alba’s scale and global reach. Together, the companies’ combined footprint across Europe and the Gulf Cooperation Council (GCC) region strengthen supply chain resilience and position the group to meet growing global demand driven by electrification, sustainable construction, and the global energy transition.
“Our commitment is long-term,” noted Ali Al Baqali, CEO of Alba. “We will ensure operational continuity, support employees and expand low-carbon production capabilities to advance Aluminium Dunkerque’s next phase of development in full alignment with France’s industrial and energy priorities.”
Next Steps
Working collaboratively with Aluminium Dunkerque’s management, workforce, unions and local and national authorities, Alba will ensure continuity and renewed confidence for all stakeholders, while deepening its industrial partnership with France.
As part of this transaction, Alba is willing to offer a shareholding position to Bpifrance, with a view to further building up a strategic partnership, in support of the long-term, sustainable development of Aluminium Dunkerque. Discussions have been initiated with Bpifrance and will be pursued in the coming days.
Closing of the acquisition is subject to the normal consultative process with the Aluminium Dunkerque works council and unions, FDI approval from the French State, and EU Antitrust and FSR approval, which are expected in due course. Closing is expected in 2026.