Algeria-France: signing of Saint-Gobain - Alver agreement

ALGIERS - The agreement between the French group of glass production Saint-Gobain and the Algerian group Alver for acquiring the Algerian leader of glass was signed on Monday in Algiers during the Forum of Algerian-French partnership, according to French and Algerian sources.

The agreement, following lengthy negotiations, was signed by the CEOs of the two groups.

No indication was given on the amount and terms of the transaction.

Algerian minister of Industry, Small Business and Investment Promotion Mohamed Benmeradi announced in recent days to AFP finalizing negotiations and signing of the agreement during the visit of John Pierre Raffarin, former French prime minister appointed by President Nicolas Sarkozy to boost cooperation between the two countries and accelerate the conclusion of negotiations on twelve records in search of success. 

The record Alver - Saint-Gobain has taken more than two years before being sealed off because of debts of the Algerian company and the opposition of its employees to its privatization and sale to a foreign group. 

Alver, subsidiary of Algerian public ENAV, produces and sells 60,000 tons hollow glass that covers most of the Algerian market, according to its website.

Ennaharonline/ M. O.

600450 Algeria-France: signing of Saint-Gobain - Alver agreement
Date: 1 June 2011

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