Algeria's Holding Management Company (SGP) Equipag, the National Company for Measurements Instruments and Control (AMC) and l'Algerienne des Eaux (ADE), signed Sunday in Algiers an agreement for the establishment of a joint-venture with Sensus Metering System group (SMS). This new JV, which the foreign partner holds the majority, aims at producing and marketing next-generation water meters, and their accessories in Algeria and foreign markets, APS reported.
55 percent of the capital is held by SMS, 30 percent by AMC and 15 by ADE.
This joint venture plans to manufacture 275,000 meters per annum in order to satisfy the Algerian market needs and 365,000 counting systems, which part of them will be exported.
During the first year, the company plans to post a turnover of €4 million, and to increase it after five years, to €7 million.
The Sensus Metering Systems Inc. companies are providers of high-value metering and Automatic Meter Reading (AMR) solutions for water, gas, electric, and heat utilities as well as sub-metering entities worldwide. Additional linked businesses include IMSofTech, a provider of utility billing and enterprise management software; Smith-Blair, Inc. a leading provider of pipe clamp & coupling products for the water, gas, and industrial markets; and Sensus Precision Die Casting that produces superior quality die castings. (menareport.com)
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