Algerian tycoon Issad Rebrab’s Cevital partners with WEG to form electrical machinery company
The JV will produce motors for washing machines manufactured by Cevital and other partners.
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The JV will produce motors for washing machines manufactured by Cevital and other partners.
On July 1, his son Malik Rebrab, who has previously held high positions in Cevital, will take over as CEO.
Rebrab is the seventh-richest man in Africa, with a net worth of $5.1 billion.
Rebrab is the founder and owner of Cevital, the country’s leading private group.
Rebrab is the head of the Algerian billionaire Rabrab family and the world’s second-richest Arab after Nassef Sawiris.
Egypt’s Nassef Sawiris and Algeria’s Issad Rebrab and family have emerged as the first and second richest Arabs in the world.