Alba sales, production surge in second quarter
Manama : Despite the market volatility and trade tensions, Aluminium Bahrain (Alba) has closed the second quarter of 2018 by achieving the best-ever production and metal sales’ volume, the company said in a statement yesterday.
Production topped 252,081 metric tonnes (mt), up by 23 per cent year-on-year (YoY), while sales’ volume jumped by 19 per cent YoY to reach 249,595 mt versus 210,157 mt in Q2 2017. Value-added sales averaged 60 per cent of total shipments versus 61 per cent in Q2 2017.
For the first half of 2018, production throughput reached 511,480 mt versus 453,395 mt in H1 2017 (up by 13 per cent YoY) while sales volume increased by 48,143 mt to top 501,232 mt year-to-date. Alba will release its second quarter 2018 financial results to the public on July 23, 2018 as well as upload the IR presentation on its investor relations section at www.albasmelter.com.
Alba’s Line 6 expansion project is one of the largest brownfield developments in the region. Expected to begin production by January 1, 2019, this project will boost the smelter’s per-annum output by 540,000 mts, bringing its total production capacity to 1.5
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