VOL. XXXIII

NO. 14

8-JANUARY-1990

OAPEC

ASRY's Profits Expected to Rise to $10mn in 1989

The General Manager of the Bahrain-Based OAPEC-sponsored Arab Shipbuildingand Repair Yard (ASRY), Mr. Antonio Machado Lopez, has disclosed that the yard'sturnover in 1989 is expected to rise to $47mn compared to $28mn in 1987 owing tothe large upturn in business following the cessation of the Iraq-Iran war.ASRY's net profits in 1989 are expected to rise to about $10mn compared to asmall (undisclosed) profit...