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Together with Emmanuel Macron, Algerian conglomerate Cevital today announced the creation of a production site for ultra-pure water. There are thousands of jobs on the key.
In Charleville-Mézières, where he stops Wednesday as part of his memo roaming, Emmanuel Macron decided to take the last minute detour on the PSA to bring good news from the industry. Together with the leaders of the Algerian Cevital conglomerate, the President announced the creation of a part of a clean hydropower plant from part of the country of the producer. The site should be operational by the end of 2019, according to the head of the Algerian group, billionaire Issad Rebrab. The result will be 1000 direct jobs.
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Future Cevital will specialize in the new water purification technology developed by the German star EvCon, owned by the 80% Algerian group. This technology is applicable in many industries, ranging from agribusiness to the pharmaceutical industry to the semiconductor industry, water treatment in the chemical industry, and hydraulic fracturing of shale oil. According to Elyos, the government has been working for several months to implement this industrial project. Issad Rebrab also met Emmanuel Macron on Monday, after his Pont-à-Mousson passage. "We talked about Cevital's future projects in France," he explained. On the social network, Mayor Charleville-Mézières, Boris Ravignon, said on his part "an exciting industrial perspective":
Rescue operations in France
This is not the first time that Issad Rebrab chose France. Algerian boss has already rescued the specialized PVC windows Oxxo, restored in 2013, while in liquidation. Three years later, the company was out of the blue. In 2014, Cevital was also called to rescue Arnaud Monteburn, then the Minister of Production Recovery, to save FagorBrandt's home appliance manufacturer. The mission, taken by Issad Rebrab, who paid about EUR 200 million to buy French, but also Polish and Spanish groups, was renamed Brandt Group. Since then, four brands have been restored (Brandt, Vedette, Sauter and De Dietrich). In any case, most jobs have been preserved.
Issad Rebrab, whose fortune estimates Forbes for $ 3.2 billion, believes that France is "a country that innovates and has high-quality universities." His bet: collocation. "Each country has to maintain its comparative advantage: France is a country that innovates and has high-quality universities, Algeria has more competitive production costs, and we have saved Oxxo and Brandt from this collocation, which was very successful in Germany when Schröder decided to transfer unparalleled production in Eastern European countries and betting on high value added products and research in their country, which is what I intend to do with France, "he explained two years ago.
As the largest private Algerian group, Cevital operates in agribusiness, metallurgy, automotive and distribution. The group, which now has 26 subsidiaries and 18,000 employees, generates $ 4 billion in sales. Its goals are to increase to $ 25 billion and $ 100,000 in 2025.
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