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Aluminium Bahrain eyes $250m savings from 2012
Edited by : AL CIRCLE
1 min read
Aluminium Bahrain, the smelting company known as Alba, is seeking to save $250 million annually from 2012 after reducing its workforce and increasing capacity.
Alba saved $100 million last year and will raise the figure to $170 million in 2011, Chief Executive Officer Laurent Schmitt said in a phone interview from Manama today. “We target an annual saving of $250 million from the end of 2012,” he said.
The company, with 870,000 metric tons of aluminum capacity a year, is seeking to expand by about 50 percent by 2015 to meet growing demand and take advantage of a 24 percent increase in prices in the past 12 months.
Alba is studying options to build a line that will produce 400,000 tons and lift the performance of two current lines, adding another 80,000 tons, Schmitt said.
“We will submit our recommendations with investment costs to the board of directors at the end of 2011 or beginning of 2012,” he said. “The ideal solution would be to do both.” A new line would take about three years to build, Schmitt said.
Alba saved $100 million last year and will raise the figure to $170 million in 2011, Chief Executive Officer Laurent Schmitt said in a phone interview from Manama today. “We target an annual saving of $250 million from the end of 2012,” he said.
The company, with 870,000 metric tons of aluminum capacity a year, is seeking to expand by about 50 percent by 2015 to meet growing demand and take advantage of a 24 percent increase in prices in the past 12 months.
Alba is studying options to build a line that will produce 400,000 tons and lift the performance of two current lines, adding another 80,000 tons, Schmitt said.
“We will submit our recommendations with investment costs to the board of directors at the end of 2011 or beginning of 2012,” he said. “The ideal solution would be to do both.” A new line would take about three years to build, Schmitt said.
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