12% growth in turnover by 2022
ALGIERS- The public mechanical group AGM (Algerian group of mechanics) achieved a turnover of 26.82 billion DA in 2022, meaning a growth of 12% compared to 2021, indicated, Tuesday, a press release from the Ministry of Industry.
The results were presented in a meeting with the heads of the group and its main subsidiaries and annexes, chaired by the Minister of Industry, Ahmed Zaghdar as part of a series of meetings to assess public groups under industrial sector organized by the ministry to assess their performance, activity and level of efficiency in 2022.
According to the presentation presented at this meeting, the turnover of the AGM group should reach 40 billion dinars by 2023.
Among the main companies within the group that recorded positive results and added value in 2022, the press release mentioned the Pumps and Valves Production Company (Poval) with a 30% increase in turnover and 41% in added value, the National Company for Public Works Materials (ENMTP) with a 37% increase in turnover and 28% in added value, and the National Company for the Production of Machine Tools (PMO) with a 12% increase in turnover and 26% increase in value added.
The public company of mechanical and accessory industries “ORSIM” realized, for its part, a 12% increase in turnover and 8% in added value, against a 10% increase in turnover and 12% added that value for the BCR Group, which specializes in the manufacture of bolts, valves and cutlery.
The National Company of Agricultural and Fishing Equipment (ENMAP) achieved a 5% increase in turnover and 14% in added value.
The meeting is also an opportunity to examine the main obstacles that have prevented the achievement of some of the goals set by the group in 2022, which are essentially inherent in the economic and geopolitical conditions that exist on a global scale, as well as the difficulty in providing certain inputs to international markets and the impact of certain subsidiaries suffering from large debts on the group’s overall results.
Following a presentation to the Group, Mr. Zaghdar emphasized the “need to further improve its results and performance in the coming years, especially since it has potential and great expertise in terms of the mechanical industry, in addition to the opportunities that the Algerian market presents within the framework of a new strategy for the development of these industries”.
The Minister issued directives with the aim of strengthening efforts in a number of strategic projects, in application of the instructions of the President of the Republic, especially those related to the production of agricultural and hydraulic equipment, but as well as the manufacture of pumps and valves. intended for the hydrocarbons sector, in addition to those intended for the water resources sector within the framework of the program to build seawater desalination stations, where AGM’s subsidiaries have extensive experience , in addition to the development of the naval industry.
Mr. Zaghdar also emphasized the importance of developing the rate of integration of the various products of the Group and its subsidiaries in creating added value, thus limiting the import bill for a number of materials and industrial equipment.
The first manager of the sector emphasized, in the same context, the need to improve the management of the Group by including performance contracts in 2023, the support of boards of directors through practices, the creation of laboratory of research and development, development. of training programs and the implementation of an efficient computer system, in addition to speeding up the digitization operation.
It should be noted that the Group has approximately 6,700 employees, and has 29 subsidiaries and companies in its portfolio, including 6 joint ventures with foreign partners, active in the production, industry of materials and equipment intended for agriculture and fishing, public works machinery, industrial equipment, machine industry and industrial subcontracting, the statement concludes.
