Alumindo Light Metal Industry

What Alumindo Light Metal Industry does

Alumindo Light Metal Industry Tbk (IDX: ALMI) is an Indonesia-based, publicly listed manufacturer of flat-rolled aluminium products, founded in 1978 and headquartered in Surabaya with a manufacturing facility in Sidoarjo, East Java. The company operates four core product lines — aluminium sheet/coil, aluminium circle, aluminium embossed/roofing sheet, and aluminium foil — across an installed annual capacity of 144,000 tons of sheet and 18,000 tons of foil, making it the largest flat-rolled aluminium producer in Southeast Asia by its own claim. ALMI serves B2B industrial buyers across construction and architectural applications (ceilings, curtain walls, venetian blinds, roofing), transportation (bus/truck bodies, license plates, road signs, heat exchangers/radiators), electrical appliances (lamp fittings, covers, reflectors), cookware (pots, pans), and packaging (cigarette, pharmaceutical, food packaging, fin-stocks, insulation).

The company sits within the Maspion Group conglomerate (30,000 employees) and is controlled by the Alim family through a network of related-party investment vehicles holding roughly 76% of the 616,000,000 shares outstanding, with public float at the remaining ~24%. Revenue is generated through direct B2B sales of physical aluminium products, with pricing set via direct sales inquiry rather than published tiers. Distribution is direct to industrial manufacturers and converters, with a historically dominant export channel to the United States that has been severely disrupted by import tariff changes and global trade tensions.

Financially, ALMI has been loss-making across 2022–2024, with reported revenue declining from approximately $80.7M (2022) to $56.7M (2023) to $18.4M (2024), and net losses reaching -$15.1M in 2024. The company entered negative equity during the COVID-19/US-tariff disruption period and completed an Rp 800 billion (~$56M) capital increase without pre-emptive rights in August 2021, funded entirely by related parties, to repay emergency intercompany loans and stabilize the balance sheet. Despite ongoing AGM activity through 2025–2026 indicating continued operations, the company has not articulated a credible recovery path in public disclosures, and its market position rests on installed capacity and ISO 9001:2008 quality credentials rather than differentiated technology.

Name

Alumindo Light Metal Industry

Legal name

PT Alumindo Light Metal Industry Tbk

Website

https://alumindo.com

Company type

Public

Founded year

1978

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Alumindo Light Metal Industry (IDX: ALMI) is an Indonesia-based B2B manufacturer of flat-rolled aluminium products — sheet, coil, circle, embossed/roofing, and foil — serving construction, transportation, electrical appliance, cookware, and packaging converters, and the largest such producer in Southeast Asia by installed capacity.

Ownership category

akta.pro rank

Product category

Flat Rolled Aluminium Manufacturing

NAICS

Aluminum Sheet, Plate, and Foil Manufacturing (331315)

akta.pro primary industry

Aluminum Rolling (Flat-Rolled Products: Sheet, Plate, Foil) (IMAKACAF)

akta.pro secondary industry

Aluminum Value-Added Components (Automotive, Aerospace, Packaging, Building Systems) (IMAKACAM)

Keywords

• Flat rolled aluminium
• Aluminium sheet manufacturing
• Aluminium foil production
• Industrial aluminium products
• Aluminium coil manufacturing

Headquarters

HQ city

Surabaya

HQ country

Indonesia

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Aluminium Flat Rolled Products Sales: Alumindo generates revenue through the manufacture and sale of aluminium flat rolled products including sheet, coil, circle, embossed, roofing, and foil. The company has historically been export-dominant with significant revenue from exports to the United States, though changes in import tariffs have pressured profitability. The company also derives revenue from domestic Indonesian sales to construction, transportation, and manufacturing sectors.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Alumindo Light Metal Industry manufactures flat-rolled aluminium products including aluminium sheet, coil, circle, embossed, roofing, and foil. Operating with production capacity of 144,000 tons per year for sheet and 18,000 tons per year for foil, the company serves construction, transportation, electrical appliance, cookware, and packaging industries through direct B2B sales of industrial-grade aluminium inputs.

Product overview

Alumindo Light Metal Industry (ALMI) is the largest flat rolled aluminium manufacturer in Southeast Asia, established in 1978. The company operates with a production capacity of 144,000 tons per year for aluminium sheet and 18,000 tons per year for aluminium foil. ALMI offers four core product lines: Aluminium Sheet/Coil (used in construction, transportation, and electrical appliances), Aluminium Circle (for cooking utensils), Aluminium Embossed & Roofing (for architectural applications), and Aluminium Foil (for packaging and heat exchangers). The company is part of Maspion Group, a major Indonesian enterprise with 30,000 employees.

Differentiator

Problem solved

Functional benefit

Products and services

• Aluminium Sheet / Coil Flat rolled aluminium sheets and coils used in construction (ceiling, decorative lighting, curtain walls, venetian blinds, roofing) and transportation industries (bus and truck bodies, license plates, road signs, heat exchangers and radiators), as well as electrical appliances such as lamp fittings, covers, and reflectors.
• Aluminium Circle Aluminium sheet formed into circular shapes, primarily used as material for cooking utensils such as pots and pans. Also functions as aluminium tread plates that prevent skidding and slippery accidents.
• Aluminium Embossed & Roofing Aluminium embossed sheets primarily used for roofing, siding, and surface decorations. Available in thickness from 0.15mm to 1.0mm with patterns including orange peel (stucco), fish skin, diamond, and parallel lines. Highly resistant to corrosion with durability up to 20 years in dry rural environments.
• Aluminium Foil Aluminium foil featuring attractive luster, lightweight construction, moisture proofing, contamination resistance, high flexibility, and good conductivity. Used for packaging, material wrapping, household foil, and heat exchanger fin-stocks. Sold in rolls of various widths and thicknesses to converters for cigarette packaging, pharmaceutical, food packaging, roofing insulation, and construction insulation.

Segments5 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered supporting.

• Paul Hadiwinata, Hidajat, Arsono, Ade Fatma & Rekan (PKF International)supportingOthersPublic accounting firm serving as the company's auditor. Address: Jalan Ngagel Jaya 90, Surabaya 60283, Indonesia. Part of PKF International network.
• PT Sirca Datapro PerdanasupportingOthersShare Registrar (Biro Administrasi Efek) for the company. Address: Jalan Johar No. 18 Menteng, Jakarta 10340.
• PT KSEI (Kustodian Sentral Efek Indonesia)supportingOthersCentral Securities Depository providing custodian and settlement services for the company's shares listed on the Indonesia Stock Exchange.

Scale indicators4 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Hindalco Industries (Aditya Birla Group): India-based integrated aluminum producer with significant flat-rolled products operations supplying construction, packaging and electrical markets. Comparable scale and end-market mix to ALMI, with a more vertically integrated upstream footprint.
• Granges AB: Swedish aluminum rolling specialist producing flat-rolled products for heat exchangers, automotive and specialty applications. Closely comparable product mix to ALMI's sheet/foil/circle offering, with similar downstream end-market exposure.
• UACJ Corporation: Japanese aluminum rolling and extrusion company producing flat-rolled sheet, foil and fabricated products for automotive, construction and packaging. Comparable flat-rolled product portfolio and B2B industrial customer base to ALMI.
• Henan Mingtai Al. Industrial Co. Major Chinese aluminum sheet and foil manufacturer supplying construction, electronics and packaging markets globally. Comparable flat-rolled product portfolio to ALMI, though at significantly larger scale and with full primary-to-rolling integration.
• Constellium: Global pure-play aluminum flat-rolled products manufacturer serving aerospace, automotive and packaging. Directly comparable to ALMI as a rolling mill converting aluminum into sheet, coil and specialty flat products for industrial end markets.

Broad incumbents

• Norsk Hydro ASA: Large, vertically integrated Norwegian aluminum major with significant flat-rolled products operations alongside primary smelting and extrusions. Broader portfolio than ALMI but directly competes in rolled aluminum sheet and foil for construction, automotive and packaging end markets.
• Arconic Corporation: US-headquartered aluminum rolling and architectural products company spun from Alcoa, producing flat-rolled aluminum and architectural systems. Comparable flat-rolled capacity and end-market overlap, though larger and more focused on North America.

Regional players

• Gulf Aluminium Rolling Mill Company (GARMCO): Bahrain-based flat-rolled aluminum manufacturer producing sheet and coil for construction, packaging and general industrial uses across the Middle East, Asia and Africa. Similar product range to ALMI but primarily serves Middle East/Africa rather than Southeast Asia/US.
• Vimetco (Alro Slatina): Romanian-headquartered vertically integrated aluminum producer with flat-rolled products, extrusions and primary smelting. Comparable mid-tier rolling capacity serving European industrial and packaging markets rather than Southeast Asia.

Emerging players

• Inalum (PT Indonesia Asahan Aluminium): Indonesia's only primary aluminum smelter, state-owned, producing aluminum ingot/billet. Adjacent participant in the Indonesian aluminum value chain that supplies feed to ALMI's rolling operations; emerging downstream ambitions could turn it into a more direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alumindo Light Metal Industry