The Alba Board of Directors held the second quarterly meeting for the year 2012 on Wednesday, June 13, 2012 at the Ritz Carlton Hotel Bahrain
Alba Board approves Q1 2012 Financial Statements
Ratification of the new changes in the management structure and the appointment of Mr. Basim Al Sharqi as Chief Support Functions Officer (CSFO
Aluminium Bahrain B.S.C. (Alba) remains on-track to meet its targets for H1 2012 amid LME price fluctuations according to a statement issued by the Chairman of Alba's Board of Directors, Mahmood Hashim Al Kooheji.
The statement was made following the second quarterly meeting for the year 2012 that was held on Wednesday, June 13, 2012 at the Ritz Carlton Hotel Bahrain.
The Board ratified its approval to key changes in the management structure, and also, to the appointment of Mr. Basim Al Sharqi as Chief Support Functions Officer (CSFO) in the Executive Management team.
The Chairman of Alba's Board of Directors, Mahmood Hashim Al Kooheji added:
"Alba's fundamentals continue to be strong and will provide a catalyst for the sound performance the company expects to achieve for the remainder of the year thanks to the inspiring leadership of the Management Team and the efforts of its skillful workforce."
The Board examined some of the matters arising from the previous meeting, and reviewed the management report as well as reports prepared by the Human Resources Committee and the Board Audit Committee.
The Board further ratified its approval of the Q1 2012 financial statements, and undertook a review of the company's mid-year forecast.
During the meeting, updates were also given to other items of the Management Report namely safety and Alba SafeWay, Star Project, Credit Insurance and Derivatives.
The Board Strategic Committee gave an update on the current status of its present activities.
The Alba Board of Directors comprises six directors appointed by Bahrain Mumtalakat Holding Company, which in addition to the Chairman of the Board, Mr. Al-Kooheji, include Fawzi Ahmed Kanoo, Yusuf Abdulla Taqi, Shaikh Mohammed bin Khalifa Al Khalifa, Osama Mohammed Al Arrayedh, and David Meen. The two directors appointed by Sabic Industrial Investments Company are Mutlaq H. Al Murished, and Humood Abdulla Al Towaijri, and the independent director, Abdul Aziz Al Humaid.
The meeting was attended by Alba's Senior Executive Management Team namely, Alba's Chief Executive, Laurent Schmitt, Chief Operations Officer, Isa Al Ansari, Chief Finance and Supply Officer, Tim Murray, Chief Marketing Officer, Jean Baptiste Lucas, Chief Support Functions Officer, Basem Al Sharqi and other company officials.
The Chairman of Alba's Board of Directors, Mahmood Hashim Al Kooheji expressed his sincere 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 and Deputy Supreme Commander, Prince Salman bin Hamad Al Khalifa.
Mr. Al Kooheji 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 Board expressed thanks and appreciation to the Senior Executive Management Team, the managers, Alba employees and their representatives in the Alba Labour Union for their hard work, and their support to enhance and develop the company's operations.
-Ends-
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 standard and T-ingots, extrusion billets, rolling slab, propertzi ingots, and molten aluminium. It has also maintained a strong track record of operational safety and environmental compliance.
For further details, please contact Investor & Public Relations Manager, Eline Hilal
Tel: (973) 17 8335100 (direct)
Fax: (973) 17 833822
E-mail: eline.hilal@alba.com.bh
© Press Release 2012
