Aluminium Bahrain B.S.C. (Alba) has surpassed its annual sales’ record of 931,526 metric tonnes (mt) in 2014 when its sales figures rose by 2.2% year-on-year (YoY) to reach 951,944 mt while production figures topped 960,643 mt up by 3.1% YoY versus 931,427 mt in 2014.
For the fourth quarter of 2015, sales figures grew by 4.2% YoY to stand at 252,582 mt versus 242,322 mt in Q4 2014; production figures reached 243,614 mt, an increase of 9,695 mt as compared to the same period of 2014.
In addition, Alba managed to close 2015 with its Value-Added (VA) sales averaging 64% of total shipments versus 66% in 2014.
Commenting on Alba’s sales and production for 2015, Alba’s Chief Executive, Tim Murray said: “We are delighted to be celebrating yet another record in sales and production despite the tough market conditions. As we move forward in 2016, we remain committed to do better than necessary by improving our underlining performance and plant reliability”.
Aluminium Bahrain B.S.C (Alba) will release its Full- Year and Fourth Quarter 2015 Financial Results to the public on Thursday, February 18, 2016 as well as upload the IR presentation on its Investor Relations section at www.albasmelter.com.
About Alba:
Aluminium Bahrain B.S.C. (Alba) – one of the largest and modern aluminium smelters 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 960,000 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 Line 6 Expansion Project:
Line 6 Expansion Project, expected to begin production by early 2019, will boost the per-annum production by 514,000 metric tonnes, bringing the total production capacity of Alba to around 1.450 million metric tonnes per year.
Bechtel Canada completed the Bankable Feasibility study for the $3.5 billion Line 6 Expansion Project in December 2014. DX+ Technology is selected as the base for Line 6, while J.P. Morgan, Gulf International Bank (GIB) and National Bank of Bahrain (NBB) are the Financial Advisors of the Project.
The Line 6 Expansion Project will enhance the downstream industry by creating many co-investment opportunities through local and foreign aluminium investments. It will create hundreds of jobs, directly and indirectly, which will be a significant economic boost for the Kingdom of Bahrain.