At the beginning of 2014, Bahrain’s economy continued to outpace average global growth and the government affirmed that an anticipated increase in in the non-oil sector’s contribution would strengthen its position as the gateway to the $1.5 trillion Gulf market.
Alba said in the final weeks of 2014 it was on track to exceed 2014 financial targets. Earlier, the company had announced that total sales for the first three quarters of 2014 were $1.6 billion versus $1.5 billion in the same period of 2013.
Alba’s focus over the past five years on value-added products is paying off as the premiums in the sector remain high and the trend is likely to continue in the New Year, said its chief marketing officer Jean Baptiste Lucas. Value-added products comprised around 66 per cent of Alba’s total output as of Q3 2014.
BAHRAIN manufacturer Everest Electrical WLL recently completed full type tests for its switchboard brand – Evertech MDB Systems – which it produces with South Korea-based LSIS’ components.
Asry, the leading ship and rig repair yard in the Arabian Gulf, has said its work expertise together with the onsite specialist contractors initiative (Project Jupiter) and corporate restructuring is helping it maintain and grow its market share.
Majaal Warehouse Company believes its purpose is to facilitate growth. Considering the follow-on investments and employment generated by the 32 tenants who fill the 400,000 sq ft of leasable area, Majaal looks to be delivering on that promise.
Foulath company Bahrain Steel’s pelletising output is up 40 per cent in 2014, but the overall plant utilisation remained low as raw material supplies from its two main Brazil sources continued to be hampered because of force majeure events.
The Bahrain Ship Repairing and Engineering Company BSC (Basrec), the oldest facility of its kind in the Gulf, is on the threshold of further expansion and improvements with regards to both ship repairs and a range of engineering services it provides beyond the maritime field.
The commercial vehicles segment in Bahrain has had a rough ride over the past two years, but signs are that the New Year will see strong growth with a revival in some projects, a senior official of Motor City has said.