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FINANCIAL NEWS
Aluminum Bahrain’s sales slightly up in Q1 Y/Y
09 Jul 2012
(MENAFN) Aluminum Bahrain (Alba) said that its global sales were hit as weaker European economy trimmed demand in the first quarter of 2012, Reuters reported.
Alba said output grew by 1.7 percent to 443,533 tons during the first quarter from 436,256 tons a year earlier.
The company added that sales were almost flat during the quarter at 446,044 tons, compared to 445,370 tons a year earlier.
Bahrain’s state-run energy supplier raised Alba’s gas supply costs by USD0.75 per million British thermal units (mmbtu) to USD2.25/mmbtu on January 1, but Alba still enjoys cheaper fuel than its competitors outside the Gulf.
The company plans a new production line aimed to boost capacity output to 1.28 million tons by 2015 from current 881,000 tons.
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