Alba on track to meet 2012 target
Manama, June 13, 2012
Aluminium Bahrain (Alba) remains on-track to meet its targets for the first half amid the price fluctuations in the London Metal Exchange, said its top official.
“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,” remarked Mahmood Hashim Al Kooheji, the chairman of Alba board of directors.
At the second quarterly meeting held today at the Ritz Carlton Hotel Bahrain, the board ratified its approval to key changes in the management structure including the appointment of Basim Al Sharqi as chief support functions officer (CSFO) in the executive management team.
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.
It 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 Alba board comprises six directors appointed by Bahrain Mumtalakat Holding Company, which in addition to the chairman Al-Kooheji includes 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.
Al Kooheji expressed his sincere thanks and appreciation to the Government of Bahrain led by His Majesty King Hamad bin Isa Al Khalifa, HRH the Prime Minister Prince Khalifa bin Salman Al Khalifa, and HRH the Crown Prince and Deputy Supreme Commander, Prince Salman bin Hamad Al Khalifa.
He also expressed his gratitude for the continuous support of Saudi Arabia and the Custodian of the Two Holy Mosques King Abdullah bin Abdul-Aziz Al Saud.
The meeting was also attended by Alba’s senior officials including chief executive Laurent Schmitt, chief operations officer Isa Al Ansari, chief finance and supply officer Tim Murray, chief marketing officer Jean Baptiste Lucas and the newly-elected CSFO Basem Al Sharqi.-TradeArabia News Service