As part of its international expansion strategy, Société Industrielle d’Appareillage et de Matériels Electriques (SIAME) has subscribed to the capital increase of an Algerian company called SIAME ELECTRIC ALGERIE (SEA).
According to SIAME, the creation of this new subsidiary is a key step in the company’s international development strategy, which involves an innovative approach to consolidating its presence in high-potential markets.
“This initiative will significantly strengthen our position in what we consider to be a strategic market, while paving the way for new deployment opportunities in SIAME’s target zones,” the company’s press release states.
SIAME also points out that its participation in the capital of SIAME ELECTRIC ALGERIE is financed entirely from its own resources.
SIAME ELECTRIC ALGERIE’s capital is set at 22 million Algerian dinars, equivalent to 520 thousand Tunisian dinars.
