With regional shipping repairing industry is on the rebound, ASRY is expecting $200 million revenues in 2013, a senior official at ASRY revealed.
Arab Shipbuilding and Repair Yard Company (ASRY) CEO Chris Potter in an informal interview with media said that the company was expecting total revenue of $200 million this year, thanks to the improving business climate across the Middle East and North Africa (MENA) region.
Potter, who was joined by Nils Kristian Berge Commercial General Manager at ASY, affirmed that he was also upbeat about the overall business prospects in 2013.
Potter was speaking to media during the ASRY media Ramadan Ghabgha held Gulf Hotel, replying to a question said in terms of business ASRY constitutes 35% to 40% of regional business.
Explaining the 25% year on year basis growth in business turnover he said ASRY was running at full capacity which will help to yield projected revenues of $200 million.
In his earlier interview, Chris said that ASRY was planning to invest tens of millions in expansion projects and may add another floating dock as part of its five-year business strategy.
About expansion, Chris said ASRY at present was consolidating its business and as part of five year strategy, the Company may add another floating dock, however, this can’t happen in near future but over the period of three years.
Talking about expansion he said the Saudi Arabia’s office will be up and running by October this year and ASRY would be exploring the opportunities in petrochemical and industrial business.
The first regional office will be based in Damam Saudi Arabia. ASRY currently has 5300 employees with 1800 permanent and 3500 on contractual basis.
ASRY is the Arabian Gulf’s most experienced ship and rig repair yard. Founded in 1977 in Bahrain, ASRY has over 35 years of experience in marine asset optimisation. Its leading range of facilities includes a 500,000dwt dry-dock, two floating docks of 252m and 227m in length, 15 repair berths with a total length of approximately 4,000m, twin 255m slipways, as well as a full range of workshops and service centres.
The yard’s portfolio of capabilities is not only the largest in the Arabian Gulf, but also includes jack-up rigs and other offshore assets, due to a dedicated division – ASRY Offshore Services. Combined with a series of other diversifications including an Energy Division dedicated to the production of unique power generation barges, and a Consultancy Division for marine engineering packages, ASRY is a multi-functional marine services hub committed to providing international standards to global ship-owners operating in the Arabian Gulf.