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Saint-Gobain announces the acquisition of the public company Alver by Verallia, the Packaging Sector of the Saint-Gobain Group. As part of the Algerian privatization process, Verallia has just signed an agreement for the 100% acquisition of the public company Alver.
Alver, based in Oran, is one of Algeria's leading glass packaging manufacturers and distributors. Alver's sales were approximately €7.0 millions in 2010 and the company employs 474 people.
Verallia has committed to making the necessary investments to increase production capacities and to improve the performance of the plant in Oran, as well as establishing an employee training program.
“This confirms the growth strategy of Verallia. It establishes Verallia’s first industrial presence in the South of the Mediterranean Basin, a market that offers an important potential for the filing of food jars and beverage bottles," said Pierre-André de Chalendar, Chairman and CEO of Saint-Gobain