Alba Reports New Sales Record

Aluminium Bahrain (Alba) on Tuesday announced a new sales record of 10,000 metric tonnes of inventory metal in 2006.

The sale increased the company's overall sales record - from production and inventory - to more than 883,000 metric tons, according to Albas marketing general manager Mussaed Eid.

Earlier in the year, Alba reported record metal production of more than 872,000 metric tons.

2006 was a record year for Alba in terms of profitability, said Eid.

Metal production in 2006 was projected to reach 851,271 metric tons, but Alba exceeded that target to produce 872,388 metric tons, setting a new metal production record.

According to Eid, the marketing team have been capitalizing on buoyant market trends that enabled them to set the new sales record of 883,247 metric tons by selling inventory metal, too.

"This marks an increase of 204,067 metric tons over the 2005 total sales figure, which stood at 679,180 metric tons," said Eid.

He said that 2006 metal sales included significant increases in value-added sales such as billets (up from 242,808 metric tons in 2005 to 339,473 metric tons in 2006) and ingots (up from 117,861 metric tons in 2005 to 178,648 metric tons.

Hot metal, which is supplied to support Bahrain's downstream aluminium industries, also increased from 120,228 metric tons in 2005 to 173,057 metric tons in 2006, he said.

In February, the company reported 158.76 million US dollars in 2006 annual net profits.