SIAME Expands Internationally with New Subsidiary in Algeria

Yesterday, the Société Industrielle d'Appareillage et de Matériels Électriques (SIAME) announced that, as part of its expansion and international deployment strategy, it had subscribed to an increase in the capital of an Algerian law company, named SIAME Electric Algérie (SEA), in September 2024. According to the press release, "the creation of this subsidiary is a major milestone in our international growth strategy and a new approach to strengthening SIAME's presence in high-potential markets."

Capital Structure

The capital of SIAME Electric Algérie is set at 22 MDJZ, equivalent to 0.520 MTND, with 60% belonging to SIAME, which injected the amount using its own funds. The Algerian company SARL Steel Trans, a specialist in metal construction, holds 30% of the capital. The remaining 10% is owned by Toutalu, a company specializing in the manufacture of medium and low-voltage aluminum accessories, such as anchor clamps and anchor brackets.

Why Algeria?

SIAME is counting on Algeria, a market that will pave the way for new deployment opportunities in other regions. To understand the size of this market, it's enough to look at the Algerian government's program, which aims to build 235,000 housing units, including 185,000 units for sale, 40,000 for rural housing aid, and 10,000 public rental housing units. This doesn't even take into account what private real estate developers are building. The interest in Algeria is understandable.