Alba's board of directors at the meeting
Alba continues to eye future growth
MANAMA, December 10, 2015
Aluminium Bahrain (Alba) continues to look forward as the company prepares for future growth according to a statement issued by the chairman Shaikh Daij Bin Salman Bin Daij Al Khalifa.
The statement was made following the fourth quarterly meeting for this year, which was held on December 9, said a statement.
The board approved minutes of the previous meeting, which was held on September 30 as well as discussed matters arising from the same.
At this meeting, the board reviewed and approved the 2016 Annual Operating Plan which is forecasting a very difficult year as a result of the collapse of the All-In-Aluminium prices.
It also reviewed the 2015 Corporate Governance Report and Q3 2015 Financial Statements.
The management has also given an update on the status of Line 6 Expansion Project in light of securing the gas supply, Project Titan as well as Safety and Financial Performance. In addition, a comprehensive review on the LME market forecasts for 2016 and beyond was presented to the Board.
The board reviewed the reports of the Board Executive Committee, Board Audit Committee, and the Nomination and Remuneration Committee during the meeting.
Shaikh Daij said: “We would like to thank again the Leadership and the Government of the Kingdom of Bahrain for their continuous support of the Line 6 expansion project.
“We look forward to the growth in the Aluminium industry and will continue to streamline our operational costs in the face of very difficult market conditions expected in 2016.” - TradeArabia News Service
