Algeria- The AGM public mechanical group (Algerian mechanical group) achieved a turnover of 26.82 billion DA in 2022, i.e. an increase of 12% compared to 2021, the press service of the Ministry of Industry reported on Tuesday.
The results were presented during a meeting with the heads of the group and its main subsidiaries and affiliates under the chairmanship of Industry Minister Ahmed Zagdar within the framework of a series of meetings organized by the ministry for the purpose of evaluating public groups in the industrial sector. Their performance, performance and efficiency level in 2022.
According to the presentation presented at this meeting, the turnover of the AGM group should reach 40 billion dinars in 2023.
Among the main companies with positive results and added value within the group in 2022, the press release refers to the Pumps and Valves Manufacturing Company (Poval) with a 30% increase in turnover and a 41% increase in added value, the National Company for Public Works. Materials (ENMTP) with 37% increase in turnover and 28% increase in value added, National Machine Tool Manufacturing Company (PMO) with 12% increase in turnover and 26% increase in value added.
In turn, the public company “ORSIM” of the mechanical and accessory industry achieved a 12% increase in turnover and 8% in added value against 10% and 12% added value for BCR Group, which specializes in this field. manufacture of bolts, valves and blades.
The National Agricultural and Fishing Equipment Company (ENMAP) achieved a 5% increase in turnover and a 14% increase in added value.
The meeting was also an opportunity to explore the main obstacles to achieving a number of goals set by the group in 2022, as well as difficulties in ensuring certain inputs and outputs in this area, specific to the prevailing economic and geopolitical conditions on a global scale. international markets and the impact of certain subsidiaries suffering from heavy debts on the group’s overall results.
After the presentation about the group, Mr. Zagdar stressed the importance of further improving its results and performance in the coming years, as it has potential and great experience in terms of mechanical industries, in addition to the opportunities of the Algerian market. it presents within the framework of a new strategy for the development of these industries.
The minister gave instructions on strengthening efforts in the direction of implementing the tasks of the President of the Republic in a number of strategic projects, especially the production of agricultural and hydrotechnical equipment, including the production of pumps and drawers. in addition to those intended for the water resources sector under the program for the construction of seawater desalination plants intended for the hydrocarbon sector, in addition to the development of the industrial marine fleet, in which AGM’s subsidiaries have extensive experience.
Mr. Zagdar also emphasized the importance of developing the speed of integration of 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.
In the same context, the first manager of the sector emphasized the importance of improving the management of the Group through the integration of performance contracts in 2023, supporting the board through skills, creating and developing research laboratories, and development. implementation of training programs and an efficient computer system along with speeding up the digitization process.
It should be noted that the Group has about 6,700 employees and its portfolio includes 29 subsidiaries, including the production of materials and equipment for agriculture and fishing, industry, public works machines, equipment production, industry, 6 joint ventures with foreign partners and there is a company. The statement includes industrial equipment, engine industry and industrial subcontracting.