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Alba Reports Strong Q1 2011 Results
08 : 49 PM - 11/05/2011
Manama - May11 (BNA) Aluminium Bahrain B.S.C. (Alba) has released the company's first quarter 2011 results. Alba's performance was unaffected by the political unrest in Bahrain in the month of February and March. Production was at full capacity and Alba was able to increase overall sales volume by 8.2% in the first quarter and net income of $ 88 million. Commenting on the results, Alba's Chief Executive, Laurent Schmitt said: "Q1 2011 was a challenging period for Alba as a result of the political unrest that took place in Bahrain. However, thanks to our loyal and dedicated workforce Alba was able to keep production at full capacity. "Alba remains on track to capitalise on the global economic recovery and has taken steps to expand our global footprint on value added products.
As part of this strategy Alba will establish a European sales office in Q2 2011 to allow us to better support our customers as well as expand our presence in this key market. The Chairman of Alba's Board of Directors, Mahmood Hashim Al Kooheji added: "Alba's Chief Executive, Laurent Schmitt and Chief Financial Officer, Tim Murray will be holding a conference call with investors on May 11, 2011 to present the first quarter results and provide an update on the company's key priorities for 2011." Alba has been consistently ranked as one of the largest aluminium smelters in the world, and is known for its technological strength, global competitiveness and innovative policies. Alba produces more than 860,000 metric tonnes per annum of aluminium which meet or exceed the industry standard for purity, with products including, extrusion billets, rolling slabs, foundry allows, molten aluminium and commodity ingots. It has also maintained a strong track record of operational safety and environmental compliance.


BNA 1639 GMT 2011/05/11

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