Gulf Plastic Industries (GPI) reported losses of 19,000 Omani rials ($49,353) for the first nine months of 2003 compared to OR 102,00 in losses recorded during the same period last year.
Revenues increased by 18.4 percent to OR 1,155. The company’s stocks are currently suspended from trading due to company’s capital restructure plan.
GPI was formed in 1968 and is the first industrial venture to be established in Bahrain by the private sector. From its factory located in the Mina Salman Industrial Area in Bahrain, GPI commenced operations by producing crates and plastic containers for various applications. The company soon set up an extrusion plant and began manufacturing PVC pipes. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
