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Article: Asry riding out economic storm.
- Article from:
- Gulf Industry
- Article date:
- May 1, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Bahrain-based Arab Shipbuilding and Repair Yard Co (Asry) is set to ride out the global economic storm in 2009 following its record-breaking year in 2008. Both chairman Shaikh Daij bin Salman bin Daij Al-Khalifa and chief executive Chris Potter are upbeat about the yard's performance this year after sales in 2008 broke the US $200-million barrier for the first time. "Asry is now debt-free for the first time in its history," declared Shaikh Daij, "and we have a strong cash flow." The official said new policies placed in the past year or so had paid off and the shipyard was now competitively priced and getting closer to customers. In 2008 the Bahrain shipyard had sales of ...
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