Wednesday, Jan 18, 2012
DUBAI (Zawya Dow Jones)--Aluminium Bahrain, also known as Alba, said sales volumes in 2011 rose 4.5% in 2011, compared with the year before, as it ramped up metal production.
Alba, in an emailed statement, said it moved 893,020 metric tons of metal last year, up from 854,593 metric tons in 2010. Sales in the fourth quarter of 2011 rose to 227,042 metric tons, from 224,054 in the year earlier period.
"Alba's success is significant because 2011 was challenging for industries in Bahrain, and yet, this year Alba's sales and production demonstrated a consistent upward trend. We are hopeful that Alba will witness another success story in 2012 with the active support of its workforce," said Alba's Chief Executive Laurent Schmitt.
Alba had previously said production reached 881,310 metric tons in 2011--the highest ever metal production in its 40-year history and a substantial leap from the 850,700 metric tons that was produced in 2010.
Alba is majority owned by Bahrain Mumtalakat Holding Co., the Gulf Arab state's sovereign wealth fund, with Saudi petrochemical giant Saudi Basic Industries Corp., better known as Sabic, also holding a stake.
-By Tim Falconer, Dow Jones Newswires; +9714 446-1690; tim.falconer@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
18-01-12 0911GMT
