On March 22, 2011, Daimler AG, the Algerian government, and Aabar Investments PJS signed a memorandum of understanding with regard to the assembly of trucks and buses.
The project encompasses the supply of vehicle parts to Algeria for local assembly in Rouiba. Daimler will provide technology and supply parts and components on a contractual basis. The Abu Dhabi-based company Aabar Investments PJS and the Algerian government will establish a joint venture in Rouiba, Algeria, that will be responsible for the operational management of the vehicle assembly facility.
Says Peter Alexander Trettin, the Daimler executive responsible for the sale of Mercedes-Benz vehicles in Central and Eastern Europe, as well as Africa and Asia: “We are strengthening our presence in North Africa and exploiting the Algerian market’s growth potential for vehicles of all kinds. The project also helps us to make a positive contribution to Algeria’s economic development. In this way, Daimler is creating new jobs in Algeria and safeguarding jobs at our German plants.”
Daimler and Aabar had already signed an initial memorandum of understanding with the Algerian government on July 28, 2009. In line with this agreement, Daimler will supply modules to an assembly plant in Tiaret, Algeria, for the production of Sprinters, Unimogs, and G-Class vehicles.
Through its projects in Algeria, Daimler is supporting the economic cooperation between Germany and Algeria that was agreed on in the protocol of the first German-Algerian Joint Economic Commission, which was signed on March 9, 2011 by the German and Algerian governments. In this context, a training program will be carried out in cooperation with the Algerian government and Aabar in line with Germany’s work-study training system.
Aabar owns a 9 percent share in Daimler AG, which makes it the company’s largest individual shareholder. For Daimler and its major shareholder Aabar, the activities in Algeria constitute another joint project for promoting close cooperation.
Source: Daimler AG