Monday 13 July 2020

Aerial view of the Alba facility in Bahrain

Alba Q3 production up 2.9pc

MANAMA, October 11, 2015

Aluminium Bahrain (Alba), one of the world's leading aluminium smelters, said on Sunday its third-quarter output rose 2.9 per cent despite significant drops in London Metal Exchange prices.

The sales figures reached 238,862 metric tonnes (mt), an increase of 5,940 (mt), versus 232,922 mt in third quarter of 2014 while production figures jumped by 2.9 per cent year-on-year (YoY) to top 240,351 mt, said a statement from the company.

For the nine months of 2015, Alba’s sales figures stretched to 699,362 (mt), up from 689,203 (mt) in the same period of 2014; while production figures increased by 19,521 mt to reach 717,029 mt year-to-date, it said.

In addition, Alba closed the third quarter of 2015 with its value-added sales averaging 64 per cent of total shipments versus 67 per cent for the same period in 2014.

The value-added sales for the nine months of 2015 averaged 65 per cent of total shipments versus 66 per cent for the same period in 2014, added the statement.

Tim Murray, chief executive officer, Alba, said: “Despite the collapse of all-in-aluminium prices, Alba continues to perform and deliver results in its key areas of safety and production.”

“We will continue to push the limit on our cost initiatives and accelerate our efforts to remain cost competitive,” he added.

Aluminium Bahrain B.S.C (Alba) will release its third quarter 2015 financial results to the public on November 11, it added. – TradeArabia News Service

Tags: | Alba | Output | quarter | rise | third |

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