MANAMA: Alba hit all-time-high records in sales volume and production last year, the company’s chief executive Tim Murray said yesterday.
The Bahrain-based international aluminium smelter reported sales volume of 978,195 tonnes for 2017, up 0.4 per cent year-on-year (YoY), versus 974,014 tonnes in 2016 while production topped 981,016 tonnes as compared with 971,420 tonnes in 2016, up by 1pc YoY, despite the power outage incident in April 2017.
For the fourth quarter of 2017, sales volume spiked by 8pc YoY to 277,567 tonnes from 256,445 tonnes for the same period in 2016 while production surged by 9pc YoY to 274,147 tonnes, versus 250,670 tonnes in fourth quarter 2016.
Alba managed to close 2017 with value-added sales averaging 57pc of total shipments as against 56pc in 2016.
“Despite 2017 challenges, we have succeeded in raising the bar in our sales volume and production performance,” said Mr Murray.
“This milestone proves that our resilience can transform any challenge to opportunity.
“As we move forward in 2018, we remain focused on achieving another breakthrough in production as we target one million tonnes.”
The company said it will publicly release its full-year and fourth-quarter financial results for 2017 on February 8.