Sep 24 2014
In This Article
Aluminium Bahrain
The
Alba
Board approved the 2015 Marketing plan that will capitalize on the increase in worldwide physical premiums.
Alba
was the winner of the prestigious Gold RoSPA award for safety performance.
The
Alba
Board reviews progress of Line 6 project.
Aluminium Bahrain
B.S.C. (
Alba
) is on course to hit its annual production growth targets according to a statement issued by the Chairman of
Alba
‘s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa.
The statement was made following the third quarterly meeting for the year 2014 which was held on Wednesday, September 24, 2014 at
Alba
.
The Board approved the 2015 Marketing Plan and looks forward to capitalize on strong physical conditions. In addition, the Board approved the half-yearly financial statements along with the recommendation to distribute interim cash dividends of BD 16.94 million (US$ 45.06 million).
During the meeting, the Board Executive Committee also gave an update on
Alba
‘s Line 6 expansion project.
The Chairman of
Alba
‘s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa added:
”
Alba
is optimistic about the projections for the 2015 Marketing plan.
I would also like to thank all
Alba
‘s employees for their continued support on safety which was recently recognized by the receipt of the 2014 Gold RoSPA Award for safety performance.
I also take the opportunity to express our sincere thanks to the Government of the Kingdom of Bahrain for its commitment to further develop the Aluminium Industry and for granting approval to provide the natural gas allocation for
Alba
‘s Line 6 expansion project. “
The Board also studied the reports of the Board Executive Committee, Board Audit Committee, and the Nomination and Remuneration Committee.
Updates were also given by Management on Safety, Financial performance, Project Titan and a review of LME market forecasts.
The
Alba
Board of Directors comprises six directors appointed by Bahrain Mumtalakat Holding Company, which in addition to the Chairman of the Board, Shaikh Daij Bin Salman Bin Daij Al Khalifa; include Yousif Abdulla Taqi, Osama Mohammed Al Arrayedh, Fahad Nasser Al-Hazzani, Dr. Mohamed Kameshki and Tony Robinson (Anthony Lee Robinson). The two directors appointed by Sabic Industrial Investments Co (SIIC) are Mutlaq Hamad Al Morished, Fahad S. Al Sheaibi and the independent director, Abdul Aziz Al Humaid.
The Chairman of
Alba
‘s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa expressed his thanks and appreciation to the Government of Bahrain, led by His Majesty King Hamad bin Isa Al Khalifa, His Royal Highness the Prime Minister Prince Khalifa bin Salman Al Khalifa, and His Royal Highness the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, Prince Salman bin Hamad Al Khalifa.
Shaikh Daij also expressed his gratitude for the continuous support of the Kingdom of Saudi Arabia and the Custodian of the Two Holy Mosques King Abdullah bin Abdul-Aziz Al Saud.
The meeting was attended by
Alba
‘s Senior Executive Management Team as well as other Company officials. The Board expressed their thanks to the Senior Executive Management Team, Managers,
Alba
employees and their representatives in the
Alba
Labour Union for their support to boost the Company’s operations
-Ends-
About Alba
Aluminium Bahrain
B.S.C. (
Alba
) – one of the world’s leading aluminium producers in the world – is renowned for its premium grade aluminium products, technological strength and innovative policies, strict environmental guidelines and high track record for safety. Established in 1971 as a 120,000 tonnes per annum smelter,
Alba
today produces more than 912,000 metric tonnes per annum of the highest grade aluminium, with products including standard and T-ingots, extrusion billets, rolling slab, properzi ingots, and molten aluminium.
Alba
is listed on both the Bahrain Bourse and London Stock Exchange, and the Company’s shareholders are Bahrain Mumtalakat Holding Company (69.38%), SABIC Industrial Investment Company (20.62%) and the General Public (10%).
About Arabal
The Arab International Aluminium Conference (ARABAL) is the premium trade event for the Middle East’s aluminium industry and the only conference in the world attended by every single primary aluminium manufacturer in the region. Therefore, it is the conference of choice for anyone interested in the Middle East aluminium industry.
ARABAL first began in 1983 with Kuwait Aluminium Co. bringing together the leading figures in Middle East Aluminium to strengthen ties and discuss the issues of the day to provide an overview about the entire aluminium industry. Over the past 29 years, it has become an event of international repute, bringing together leaders from the aluminium industry across the world to attend, speak, and exhibit, at the event.
For further details, please contact:
Eline Hilal
Investor Relations Manager
Investor Relations Department
Tel: (973) 1783 5100 (direct)
Fax: (973) 1783 3822
E-mail: eline.hilal@alba.com.bh
Website: www.albasmelter.com.bh
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© Press Release 2014
© Copyright Zawya. All Rights Reserved.
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