Alba on track to meet growth targets
Manama, June 11, 2013
Aluminium Bahrain (Alba), ranked as one of the largest aluminium smelters in the world, continues to focus on meeting its growth targets despite tough LME market prices, said its chairman Mahmood Hashim Al Kooheji.
The statement was made following the second quarterly meeting held on Tuesday at the Gulf Hotel, Bahrain. The board also approved the appointment of Ali Al-Baqali as the new chief financial officer with immediate effect.
Commenting on the appointment, Al Kooheji said, "I am happy to welcome Ali Al-Baqali as a key member of the executive leadership team. We are confident that with his wealth of financial and procurement knowledge Ali will play a major role in the continued success at Alba."
The members also discussed several strategic and operational issues, reviewed and approved 2013 mid-year forecast as well as the first quarter financial statements along with the changes in the company’s authorised signatories list.
At the meeting, the board strategic committee gave a progress update on the Line 6 Bankable Feasibility Study.
In addition, the board also reviewed the management report as well as reports prepared by the Human Resources Committee and the Board Audit Committee, while updates were also given on reports related to safety awareness across the entire plant.
The Alba board comprises six directors appointed by Bahrain Mumtalakat Holding Company, which in addition to 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 Hamad Al Murished, and Dr Talaat Dhafer Al Qahtani, besides the independent director, Abdul Aziz Al Humaid.
The meeting was attended by Alba’s senior executive management team as well as other company officials.-TradeArabia News Service
More Industry, Logistics & Shipping Stories
- MAG boosts Iraq shipping capacity by 60pc
- Sabic to distribute $2.4bn dividends in H2
- Pearl diving 'regains popularity' in Bahrain
- AerCap to buy AIG aircraft leasing unit for $5.4bn
- Safco to pay $1.6 per share cash dividend
- UAE ranked 17th globally for merchandise export
- Investments in Saudi plastics sector hit $50bn
- Asry Bahrain overhaul plan approved
- DHL Mena chief wins top honour
- Dubai Investments unit wins $38m projects