VOL. XXXII

NO. 41

17-JULY-1989

BAHRAIN

Gulf Aluminum Rolling Mill Reduces its Losses by 59% to $5.4mn in1988

The Bahrain-based joint venture firm - The Gulf Aluminium Rolling Mill (GARMCO)- established in 1980 and owned 20% each by the governments of Bahrain, SaudiArabia, Kuwait and Iraq, and 10% each by Oman and Qatar - announced a net lossin 1988 of BD2mn ($5.3mn), a 59% decrease from the loss of BD4.9mn ($13.1mn)registered in the previous year. The company, which operates a 40,000 tons/year...