Bahrain's Alba sees steady sales, production

Aluminium Bahrain says it expects full-year output to exceed the 2011 level
Tim Murray, Albas new CEO
By Reuters
Sun 14 Oct 2012 06:33 PM

Aluminium Bahrain, the world's fourth-largest aluminum smelter, said production and sales were steady in the third quarter and it expects full-year output to exceed the 2011 level.

Production was 219,681 tonnes compared with 222,553 tonnes in the same period a year ago. Sales were 218,507 tonnes compared with 220,608 tonnes, Alba said on Sunday.

"For the year, Alba is projecting to exceed the record production it has achieved in 2011," chief executive Tim Murray said in a statement.

The company's production increased by 4,405 tonnes in the first nine months of the year to 663,214 tonnes compared with the same period of 2011, while sales stood at 664,552 tonnes.

Last week Alcoa Inc said it would pay Alba $85 million in cash and enter long-term raw material supply contracts to settle the Bahraini firm's racketeering and fraud lawsuit against it.

Alba is 69 percent owned by Bahraini sovereign wealth fund Mumtalakat. Saudi Arabia holds 20 percent.

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