This was announced during ASRY’s board of directors, which was presided by Shaikh Daij Bin Salman Bin Daij Al-Khalifa, ASRY’s Chairman. Representative of the Kingdom of Bahrain in addition to the representatives of the remaining shareholding countries, i.e. the Kingdom of Saudi Arabia, the State of Qatar, the State of Kuwait, the United Arab Emirates, the Republic of Iraq and the Libyan Arab Jamaheria were also present during the meeting.
The board reviewed and approved the financial statements and Auditors’ Report for 2010 and raised a recommendation to the General Assembly to approve them.
The board thanked the Management and all the employees of the Company for their sincere and hard work which was carried out in the face of severe competition.
The board approved the new organizational structure of the company and was informed on the progress of the expansion project including the construction of a quay wall for ship repair and offshore services which is expected to be completed by December 2011.
The board was also informed with regard to a number of ongoing Projects and reviewed a number of proposals and information related to administrative, marketing and technical matters. They also were briefed regarding plans for continuous improvement.