ASRY holds board meeting, on target to see year-on-year growth

TDT | Manama             

The Daily Tribune – www.newsofbahrain.com

ASRY, the leading ship and rig repair yard in the Arabian Gulf held its third Board Meeting in 2022, under the chairmanship of Yousif Isa Bubshait, Chairman of the Board of Directors, on 13th October at the company’s headquarters in Hidd.

The meeting primarily reviewed the activities of the third quarter of 2022, which has seen positive developments in revenues and margins. Discussions confirmed the company is on target to see year-on-year growth in 2022, with a reliable order book of advanced projects in the pipeline.

“The noticeable improvement in ASRY’s finances,” confirmed Bubshait, “is a testament to the ongoing modernisation strategy that the current management team has steadfastly implemented. Not only have their marketing efforts secured high occupancy and a solid sales pipeline, but operational efficiencies have also reduced costs.”

“The Executive Management,” Bubshait said, “has also taken even further steps to maintain

best practices in health and safety, employee performance, security and environmental sustainability.” The attendees, representatives of the Kingdom of Saudi Arabia, Kuwait, the United Arab Emirates, the Republic of Iraq, and the State of Libya, in addition to members of the ASRY Executive Management team, also toured the facility to witness the physical improvements and general occupancy levels of the yard.