ASRY reviews performance

Manama : The Board of Directors of the Arab Shipbuilding & Repair Yard Company (ASRY) yesterday announced that its total sales for the period from 1st January through end of November 2016 were approximately 2 per cent lower than the same period the previous year. 

This was revealed during a board meeting held under the chairmanship of Shaikh Duaij bin Salman Al-Khalifa, Chairman of the Board of Directors, on 12 January 2017 at its head office in Hidd. Other members as well as the Executive Management of the Company attended the meeting.

The board said it has adopted several resolutions related to the company’s situation and means of activity development and how to enhance efficiency and cost reduction. 

The meeting also discussed means of supporting the company’s services and activities in the light of the report and recommendations submitted by the consultative company, Alix Partners.

Various activities of ship and rig repair, as well as the new projects during the period 1st January through 30th November 2016 were also discussed. 

The board welcomed new Chief Executive, Andrew Shaw of Britain, who has assumed the position on Wednesday, 04 January 2017. 

Commenting, Shaikh Daij said the board had reviewed the overall situation of the Company, particularly the financial and business positions.