Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, held its Annual General Meeting (AGM) on Thursday 11 March 2021 – its first AGM meeting through virtual platforms.

During the AGM, the minutes of the previous Annual General Meeting which was held on 08 March 2020 were discussed and approved. The Report of the Board of Directors for the year-ended 31 December 2020 was approved while the External Auditors’ Report for the Financial Statements for the year-ended 31 December 2020 was reviewed during this meeting.

Approval was given to the non-distribution of cash dividends to the shareholders and transfer BD9,755 Thousand - the Net Profit for the year-ended 31 December 2020, to the Retained Earnings.

Approvals were also given to the recommendation of the Board of Directors’ total remuneration of BD210,000 for the year-ended 31 December 2020 and subject to the approval of the Ministry of Industry, Commerce and Tourism.

The 2020 Corporate Governance Report was tabled before the shareholders and KPMG was re-appointed as the Company’s External Auditors for 2021.

In addition, Alba’s shareholders approved the transactions carried-out during the financial year-ended 31 December 2020 with any of the related parties as described in note # 27 of the financial statements in line with Article 189 of the Commercial Companies Law as well as absolved the Board of Directors from their actions/activities for the year-ended 31 December 2020.

Approval was given to SICO B.S.C. (c) to provide Market-Making services by utilising at any given time a maximum of 3% of Alba’s issued share capital for 3 years period and subject to the approval of the Central Bank of Bahrain.

Commenting on this occasion, the Chairman of Alba's Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa said:

“COVID-19 pandemic tested us in every way without exception and the challenges we went through in 2020 have unlocked Alba’s potential and true strength. We learnt a lot and we established many firsts – all thanks to the agility of our people. 

As we progress in 2021, we set our objectives for Alba to be at the forefront of the Aluminium industry all the while drive long-term growth for our shareholders.”

-Ends-

About Aluminium Bahrain B.S.C. (Alba) 

Alba is the world’s largest aluminium smelter ex-China with a production of more than 1.548 million metric tonnes per annum (mtpa) (2020). With a dual listing on Bahrain Bourse and London Stock Exchange, the Company’s shareholders are Bahrain Mumtalakat Holding Company B.S.C. (c) (69.38%), SABIC Industrial Investment Company (SIIC) (20.62%) and General Public (10%).

In addition to molten metal, our diverse Value-Added Product (VAP) portfolio includes Foundry grade re-melt products (T-Ingots, Standard Ingots and Properzi Bars), Rolling Ingots (Slabs), Extrusion Ingots (Billets) and Unalloyed P1020 re-melt products. Around 79% of our products - from customised alloys to a variety of surface finishes -- are exported to more than 150 global customers through our sales offices in Europe, Asia, Singapore, and subsidiary office in the U.S.

Alba Campus comprises six Reduction Lines, three Power Stations, four Casthouses, four Carbon Plants along with other ancillary facilities. In addition to primary aluminium production, we also produce 530,000 mtpa of high-quality calcined petroleum coke at our own dedicated Coke Calcining Plant. Alba also yields 9.5 million cubic metres of potable water per annum from its dedicated seawater desalination plant.

Alba has carved an enviable reputation in Safety, Environment and Health, Sustainability and Quality Management. It is one of the few smelters in the world to have achieved Zero Lost Time Injuries (LTI) in 2019. Alba was recognized during 2020 with five categories of National Safety Council (NSC) awards - USA, International Safety Award with Merit from British Safety Council (BSC) – UK, and Gold Medal Health and Safety Award from the Royal Society for the Prevention of Accidents (RoSPA) – UK. In addition, Alba closed 2020 with achieving 6 million safe-working hours without LTI.

Alba brings value to its customers with the many globally-recognised certifications such as ISO 9001, ISO 45001, ISO 14001 and ISO 27001. Moreover, the Company attained the significant Automotive Quality Management System - IATF 16949 in 2018 and, Bronze Medal by EcoVadis and Aluminium Stewardship Initiative (ASI) Performance Certification in 2020.

Alba is committed to fostering greater sustainability across all our operations. In line with its CSR initiatives, Alba set-up the Region’s first-of-its-kind Spent Pot Lining (SPL) Treatment Plant in cooperation with Bahrain’s Supreme Council for Environment in 2019 to create a sustainable solution for the treatment of SPL with zero-waste. In 2020, Alba inaugurated its Fish Farm Project in collaboration with the Bahrain National Guard Consumer Association, thus boosting the Kingdom’s aquaculture and enriching the biodiversity around Alba’s operations.

Starting out in 1971 as a 120,000 mtpa smelter, Alba has continually delivered value to its customers, shareholders, and stakeholders. As we mark the Golden Jubilee of operations in 2021, we aspire to be more productive, innovative, and sustainable. For more information on Alba, please visit www.albasmelter.com 

Alba External Grievance Mechanism

Alba’s External Grievance Mechanism receives and facilitates the resolution of any affected communities’ concerns and grievances about Alba’s Environment and Social (E&S) performance. External grievances about Alba’s E&S performance can be logged via the Alba Integrity Line - an independently operated confidential reporting hotline in multiple languages - via a toll-free phone system or via the intranet 24 hours a day,

Alba’s External Grievance Mechanism is in line with Performance Standards of the International Finance Corporation (IFC), a World Bank affiliated lending organisation.

Alba Response to COVID-19 Pandemic

2020 was a year like no other and as one of Bahrain’s leading industrial companies, Alba’s response strategy to COVID-19 was initiated since January 2020 and was based on the guidelines of Bahrain National Taskforce for Combating Coronavirus (COVID-19).

Alba’s Executive team adapted an interactive approach from creating personal video messages, visiting shop-floor areas and engaging in virtual daily briefings with its Healthcare Centre team. Alba Management announced work-from-home and reduced working-hours where applicable especially for the female staff, and actioned plant-wide temperature checks for all shifts; social distancing protocols in offices, shop-floor areas and transport vehicles; frequent sanitization of all operational and non-operational areas; distribution of protective kits; installation of hand sanitizer dispensers across the Company and posted multilingual posters in various areas.

Despite COVID-19 outbreak, Alba continued to maintain stable operations thanks to its Business Continuity Plan and Emergency Preparedness Plan and sent-out few Letters of Assurance on Safe operations at Alba to all its stakeholders (customers, suppliers, and regulators) during 2020.

Alba, the Safety of our people – employees and contractors’ workers – always comes First. Whilst we continue to follow COVID-19 measures at all times, we remain focused on Safety, Efficient Operations and Lean Cost Structure.

For further details, please contact:
Eline Hilal
Director, Investor Relations, Insurance & Corporate Secretary
Investor Relations Department
Tel:         (973) 1783 5100
E-mail:    eline.hilal@alba.com.bh
Website: www.albasmelter.com  

Follow us on:
http://www.twitter.com/Alba4World
http://www.facebook.com/Alba4World
http://www.instagram.com/Alba4World
http://www.linkedin.com/company/aluminium-bahrain
http://www.youtube.com/Alba4World 

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.