Ali Boumediene started off by importing and distributing household appliances in 1992. In 1997, the young director was invited to South Korea by Samsung. “While walking around their factories, I discovered a different world. Their knowhow and precision fascinated me.” Back in Algeria, the company was launched in 2001. In two years, manual insertion becames automated and the company slowly started to export to Europe, receiving ISO certification for its products and establishing a sub-contracting partnership with LG Electronics.
Bomare Company is the leading manufacturer of electronics in Algeria. Its brand of mobile phones, Stream System, ranks second on the Algerian market. It has an exclusive contract with Blue Vision for distributing its products (TV, smartphones and tablets) in the Spanish and Portuguese markets, at 250,000 units over five years for $50 million.
The Algerian brand will next expand to France, Germany and the Ivory Coast. Exports account for 15 to 20 percent of the company’s turnover. Boumediene wants to increase this share to 30 percent in 2017 and reach a 70 percent value-added ratio. “We have put everything in place to compete internationally among industrial sub-contractors. We have expert knowledge of the technology.” In 2015, Bomare Company recorded a turnover of $42 million.