Asry sees Q1 sales hit $40m
Manama, May 2, 2011
Arab Shipbuilding and Repair Yard (Asry) said the company's ship repair sales reached $40.154 million during the first three months of this year.
Asry chairman Shaikh Daij bin Salman bin Daij Al Khalifa announced this while presiding over the 123rd board meeting. It was attended by representatives of the remaining shareholding countries, Saudi Arabia, Qatar, Kuwait, the UAE, Iraq and Libya.
The board reviewed and approved the financial statements and auditors' report for 2010 and raised a recommendation to the general assembly to approve them.
The board was also informed about the financial results during the first three months of 2011 as company's ship repair sales reached $40.154 million and 52 vessels were repaired.
The board thanked the management and all the employees of the company for their sincere and hard work, which was carried out in the face of severe competition.
The board approved the new organisational structure of the company and was informed on the progress of the expansion project including the construction of a quay wall for ship repair and offshore services, which is expected to be completed by December 2011.
The board was also informed with regard to a number of ongoing projects and reviewed a number of proposals and information related to administrative, marketing and technical matters.
They were also briefed on plans for continuous improvement. -TradeArabia News Service
More Industry, Logistics & Shipping Stories
- Gulf Marine Services makes muted London debut
- Emal to supply molten aluminium to Ducab unit
- Ducab acquires British cable firm
- Emirates SkyCargo wins top awards
- Bayer opens new coatings, adhesives lab in Dubai
- Chep Aerospace unveils new ULD mobile app
- Cargo summit calls for cut in transit times
- Dubai bus fare cheapest among top cities
- DHL Express boosts Mideast fleet
- DNV to re-certifiy Drydocks World services
- Amphibious boats make global debut in Dubai
- Qatar sets up mixed business incubator
- Non-oil sectors ‘biggest contributors to UAE economy’
- Alba educates customers on best practices
- Spinneys to set up distribution centre at Kizad
- Maritime courses draw more trainees
- Dow to showcase at Dubai coatings expo
- UAE aluminium sector backs Syria refugees
- Asry in big vessel repair milestone
- Flare, Jordan form parent company ‘Aereon’
- Drydocks delivers second MCV for US
- ASIS launches amphibious leisure boat
- Taskforce sought to develop Saudi downstream sector
- DP World launches $200m India project
- RAK 'exploring' ceramics unit stake sale
- Mideast carriers top global air freight growth
- DMCA launches maritime solution apps
- Saudi plans oil-to-chemicals plant at Yanbu
- Sabic gets four bids for JV with Mitsubishi Rayon
- Pentair, IDC launch industrial services JV