Alba records Q3 production growth despite nine-month decline
The company's nine-month sales and production volumes respectively dropped by 2.4% and 1.9% in the aftermath of a power outage at one of its facilities this April
Aluminium Bahrain (Alba) has reported a spike in its sales and production volumes for the third quarter of this year.
The company closed Q3 2017 and the first nine months of this year with value-added sales averaging 59% of total shipments.
Alba's sales volume rose to 247,540 metric tonnes (mt) in Q3 2017 – a 0.5% rise over corresponding figures for 2016.
Meanwhile, the aluminium giant's production volume topped 253,475mt in Q3 2017, a 3% rise over Q3 2016 production volumes.
However, the company's nine-month sales volume recorded a year-on-year (YoY) reduction of by 2.4%, equalling 700,629mt this year.
Production volumes for the first nine months of 2017 hit 706,869mt, a 1.9% YoY drop compared to 2016.
Alba has attributed the declined values to a power outage that occurred at one of its facilities this April.
Commenting on the Q3 performance, Tim Murray, the chief executive officer of Alba, said: "We are pleased with the solid third-quarter performance on the back of the speedy recovery of Reduction Line 5.
"We are expecting a strong finish in the fourth quarter on the back of sound market demand."
In a press statement on 13 April, 2017, Alba said it experienced a power station outage on 5 April, which led to temporary loss of power in all five of its reduction lines for three hours.
The statement added: "Alba subsequently restored all power operations.
"Reduction Lines 1-4 are operating at normal levels, while Reduction Line 5 is partially running and is expected to return to be fully operational by early Q3 2017."
Alba confirmed no injuries were caused due to the incident.
Production losses from the incident will be part of an insurance claim, Alba confirmed in the statement.
Operations on Reduction Line 5 recommenced this July, following a recovery process that the company's chief described as "one of the most painful experiences in the history of Alba".
In the immediate aftermath of the incident, Alba estimated a loss of 3% to 5% in its total production for 2017.