Aluminium Bahrain Has Been Consistently Ranked Commerce Essay

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Aluminium Bahrain has been consistently ranked as one of the largest aluminium smelters in the world and is known for its technological strength and high quality aluminium. Alba enforces strict environmental guidelines, maintains high track record for safety, and is widely regarded as one of the top ten performers on a global scale.

It supports numerous community oriented programmes and social activities that have underlined its status as one of Bahrain's leading industrial organizations that remains committed towards upholding its corporate social responsibilities. Alba's inception marks the beginning of Baharin's strategy to diversify its economic base and reduce its dependence on oil. The aim was to establish an industry that would provide valuable export earnings, develop the country's resources and create training and employment opportunities for a large number of Bahrainis. Alba was therefore incorporated by Charter in 1968 and officially commenced operations in 1971 as a 120,000 tonnes per annum smelter.

Alba today produces more than 880,000 metric tones per annum of the highest grade aluminium, with products including standard and Tingots, extrusion billets, rolling slab, propertzi ingots, and molten aluminium. Around 50 per cent of output is supplied to Bahrain's downstream aluminium industry, with the rest exported to regional and international customers in the Middle East, Europe, Far East, South East Asia, and North America.

Alba plant comprises five reduction lines, three cast houses, a dedicated carbon plant, a 550,000 mtpa coke calcining plant, a water desalination plant, 11 fume treatment plants, a marine terminal, and a 2.225 MW power plant, consisting of 4 power stations. The plant also features a 10 hectare 'green' oasis, with more than 7,600 trees and shrubs, a fruit and vegetable garden and an artificial lake.

Alba's early success established a blueprint for other non-oil industries to follow, including a thriving downstream aluminium industry. Today, Alba is a major contributor to the social, industrial and economic development of the Kingdom of Bahrain, employing over 3,000 people, of whom around 90 per cent are Bahrains.

The entire plant operates to the Environmental Management System standard ISO 9001:2000 and the Casthouses and Marketing are also operating to the ISO 9002 Quality Management System. Recently, Alba Casthouse was upgraded to the 2008 version of ISO 9001, enabling Alba to be the first metals manufacturing company in Bahrain to receive this major upgrade.

The company has won a number of awards including the inaugural Shaikh Khalifa bin Salman Al Khalifa Award for Industrial Excellence, the International Millenium Business Award for Environment Achievement from the United Nations, safety awards from the British Safety Council and The Royal Society for the Prevention of Accidents, and a GCC - wide award for human resources development and nationalization of the workforce.

The shareholders of Alba are Bahrain Mumtalakat Holding Company (69.38%). SABIC Investment Company (20.62%) and the General Public (10%).

SUSTAINABILITY REPORT

Social

Over the past forty years, Alba has maintained consistent emphasis on broadening its involvement in corporate social responsibility initiatives and strengthening its credentials as a strongly committed corporate citizen. Building upon its reputation as an anchor of Bahrain's economy, Alba has succeeded in carving out an effective role as an agent for positive change in the larger community. Alba achieves this goal by seeking meaningful and sustainable programs through its social investments and by developing strategies that enrich the quality of life for its stakeholders. This focus is given tangible direction through a structured approach that takes into account the following:

Greater community engagement to maximize the impact of the Company's social platform.

Commitment to Bahrain's social, cultural and economic development to underline Alba's status as an industrial leader amongst companies in the Kingdom.

Employee welfare programs as a key to developing a productive work environment.

Support for diverse sporting activities to help inculcate a healthy lifestyle at both the corporate and national levels.

Alba's commitment to corporate social responsibility continues to be fostered across the company. It remains a key component of the organizational culture, and employees recognize it to be an important vehicle for strengthening leadership in the community, and for bolstering its reputation as a caring organization.

Environmental and Economic Issues

As the world faces unprecedented environmental and economic challenges, we look at the future with optimism because we believe that every challenge has the potential of turning into an opportunity.

Global Corporate Responsibility: Energy efficiency is at the heart of addressing challenges of climate change. Our global corporate responsibility that goes with our role as producers of this unique metal of the future lies primarily in facing the challenge of climate change. We share this responsibility with every business participating in the global economy. The International Aluminium Institute states that the aluminium industry is moving with the rest of the world to combat climate change. With our immense versatility, smart uses of aluminium will be substantial in finding solutions across applications.

Environment: Since 1990, we have invested more than US$589 million in environmental conservation project. Alba has earned international praise and recognition for being fiercely committed to implementing highest environmental standards across the organization. Producing high quality products should never be at the cost of the environment has been one of the company's guiding policies. Our numerous environmental initiatives speak for themselves.

Safety: Safety is intrinsic to our work culture. It defines how we do our work, and shapes the way we conduct our operations. Safety measures are regularly updated to meet our changing needs. Everyone at Alba is inducted and trained in health and safety practices by OHSAS 18001 certified safety personnel. Our significant achievements in safety reflect the success of the company's long-standing commitment to create a safe working environment and making safety a guiding principle in all areas of work. Winning prestigious international safety awards like the RoSPA and the British Safety Council for four consecutive years is another testimony to our unrelenting pursuit of occupational safety.

Employees Support

Alba remains committed in strengthening its reputation as a leader in health, safety and environment. Alba is one of the most preferred employers in Bahrain. This goes back to the emphasis we put on employee development through specialized training and education to providing an environment for self growth and achievement. The company regards this focus to be one of the key factors behind its goal towards greater sustainability and success in developing a safe environment for employees and the community at large. Alba recognizes that commitment to employee welfare provides one of the most essential foundations for achieving productivity. Thus, training remains an important focus for greater empowerment, and Alba's employees are continually.

BOARD OF DIRECTOR

Alba - Aluminium for the world

Chairman

Mahmood Hashim Al-Kooheji

Director

Fawzi Ahmed Kanoo

Osama Mohammed Al Arrayedh

Abdul Aziz Al Humaid

Yusuf Abdulla Taqi

David Meen

Dr. Talaat Aidafer

Shaikh Mohammed Khalifa Al Khalifa

Multaq Hamad Al Murished

Executive Management

Tim Murray - Chief Executive Officer

Isa Al Ansari - Chief Operations Officer

Ali Al Baqali - Acting Chief Finance & Supply Officer

Jean Baptiste Lucas - Chief Marketing Officer

Basem Al Sharqi - Chief Support Functions Officer

As one of the world's leading aluminium smelters, Alba as a company is dedicated to broaden its reach and presence in the industry. Our associations with other research institute and industry bodies are inspired by the need to create value and produce results.

These results are not always quantifiable but can be measured by the influence they create, the impact they give and the power they unleash in transforming the world we live in. We recognize that aluminium as the metal of the future plays a key role in this process. There exists a huge demand for the metal from industries across the economic spectrum. We are committed to play our role alongside our peers in the industry to encourage research and development and wider application of aluminium across industries.

Management Letter

2011 was a breakthrough year, one in which Alba succeeded in meeting all of its targets, with an EBITDA and Free Cash Flow at US$ 582 million and US$ 606 million, respectively. This achievement cannot be taken for granted, considering the many operating challenges that the company faced in 2011, as well as the low LME and were able to increase our revenues to US$ 2,349,000 despite the slump the European market has faced since the last quarter of 2011.

Alba continues to work for the best interest of its shareholders by committing to invest in organic growth and consistently to pay back cash to its shareholders, while maintaining a strong balance sheet. In fact, for the 2011 financial year, Alba paid Fils 0.067 a share.

2011 marked the first anniversary of Alba's transformation into a commercial entity through a dual listing on the Bahrain Bourse and on the London Stock Exchange and has set the stage for greater emphasis on pursuing sound corporate governance, increased transparency and industry best practices. As a result, Alba has launched its Code of Conduct to further strengthen for integrity and to confirm the company as a champion for ethical values.

Heartfelt gratitude goes as well to Alba's board of directors, its management team and all of its employees, whom without their expertise and commitment Alba would not have been able to transform its challenges into such exciting opportunities.

SUSTAINABILITY ISSUES

SESF actively participants in promoting environmental issues throughout the company and also in the larger community

Fundamentals growths are strong, though the potential for medium-volatility will remain a concern due to persistent economic conditions.

The Company should have an important role to play in the welfare of society and that we have to responsibility to communicate, participate and cooperate with local authorities and with-non-governmental organizations interested in the welfare of the society.

To encourage all the employees to accept this responsibility and take part in discussions and activities designed to solve community problems in the best interest of society and Alba.

The Company will conduct the business in a safe, ethical, professional, environmentally sustainable and socially responsible manner.

The Company will quantify the effect of adoption of this Standard, in conjunction with the other phases, when issued, to preserve a comprehensive picture.

Standards issued but not yet effective up to the date of issuance of the Company's financial statements.

CONCLUSION

Aluminium Bahain (Alba) praised the contribution of its work force in raising the company's profile and in playing a key role in strengthening its reputation as one of the world's leading aluminium smelters.

The Company assesses its revenue arrangements against specific criteria to determine if it is acting as principal or agent. A level of collaboration and employee engagement, in developing and encourages employee ownership and commitment.

It is vital to take the local and cultural context into consideration when developing policies. Company policies are most effectively embraced when they are concise, clear and accessible. The benefits of the commitment to a concept of anonymity and non-retaliation have been shown clearly throughout the organization in terms of trust, ownership and commitment.

Alba's determination to enlarge the global footprint of its product portfolio gained momentum in 2011 with the opening of sales offices in Zurich, Switzerland and in Hong Kong. These offices will tap into the growing demand for primary aluminium from customers in Europe and Asia.

Alba determined the optimum energy sources and technology solutions for the new proposed pot line as well as look at solutions for future energy requirements. Alba remains determined to reduce its operating costs, achieve additional cash savings per annum of US$ 30 million in 2012 and improve processes through the continuous roll out of plant wide Six Sigma. The management team is confident that STAR program achievements will enable Alba to be among the lowest cost aluminium producers in the world.

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