Bahrain Aluminum Extrusion Company (“Balexco”) annual general meeting (AGM) approved the Board of Directors’ recommendation to distribute bonus shares of 5% of the paid-up capital (i.e. one share per each 20 shares) to shareholders.
The meeting also reviewed and approved the company’s financial results for the year ended 31 December 2017, which saw Balexco report a total income of $78.6 million.
In 2017, the company produced 23,000 tonnes and grew its capacity by upgrading its extrusion systems during the year to reach 33,000 tonnes.
The company has also completed the installation of the vertical coating line with a capacity of 10,000 tonnes per year in addition to the first coating line to take the total production capacity of the coating lines to 16,000 tonnes per year.
-Bahrain News Agency