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FINANCIAL NEWS
Bahrain’s Alba Q4 output to match Q3 figures
03 Nov 2011
(MENAFN) Aluminium Bahrain’s (Alba) CFO, Tim Murray, said that in the year’s fourth quarter, output levels would be expected to remain close to that recorded in the third quarter, reported Arabian Business.
Murray added that the metals maker might construct a new line that would raise the performance of two current lines by 400,000 tons, moreover, the company planned to expand by the year 2015 by 50 percent in order to meet higher demand.
On the other hand, he said that during the third quarter, the company’s net profit reached USD214 million, compared with a loss of USD51 million recorded in 2010’s same period.
It is worth noting that Alba plans to save around USD250 million annually by 2012.
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