Dubai: A package of reforms have been approved at Bahrain's Arab Shipbuilding and Repair Yard's (Asry).
These include the reorganisation of the company's corporate structure; a greater focus on the Saudi market with a new representative office in the Eastern Province; and the promotion of Nils Kristian Berge from acting chief executive to chief executive.
"It is imperative to continue developing the company by controlling expenses through a new modernised structure that reflects rapidly evolving market conditions," chairman Shaikh Daij bin Salman Al Khalifa said.
The chairman was optimistic that plenty of business could come from Saudi Arabia, a nation with firm ties with Bahrain.
"The Saudi market is significant in terms of the repair of commercial and military ships, as well as offshore platforms.
"This importance has encouraged Asry to open a representative office in the Eastern Province, which will offer our services there," Daij said. [18/12/13]
