Algeria: Sonelgaz Merges 4 of its Subsidiary Companies

The president and general manager of the Algerian electricity and gas company “Sonelgaz” announced that the company had signed merger contracts with four subsidiary companies of the Sonelgaz group to join the parent company for a review and a restructuring of its organization in light of the global financial and health crisis.

Under these contracts, the Audit and Legal Consulting Company, the Electricity and Gas Research and Development Center, the Labor Medicine Company and the Algerian Company for Communication Technologies will merge with Sonelgaz.

work agreements were signed with the General Union of Algerian Workers to transfer the employees of these companies to the parent company.

The President and General Manager emphasized that the mergers and conglomerates carried out by Sonelgaz today, Thursday, to reduce the number of its branches, will be followed by other similar processes.

The President also noted that the curricula will be reduced and the procedures modified to facilitate future merger operations, adding that the mergers of service institutions will start soon.

 

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