Faurecia to Open a Factory in Morocco
27 June 2008
Read by 2736 persons
Faurecia, Europe's second-largest automotive supplier, will open a production site for car seat covers in Kenitra (Morocco). This site represents a 10 million euro investment and should eventually employ more than 650 people.
The investment agreement with the Moroccan government was signed today in Rabat by Mr. Ahmed Reda Chami, Minister of Industry, Trade and New Technologies, Mr. Jamal Aghmani, Minister of Employment and Vocational Training of the Kingdom of Morocco and Patrick Koller, Director of Faurecia's Automotive Seating business.
The new factory (Faurecia Equipements Automobiles Maroc) will supply Renault-Nissan and Volkswagen Group production sites in Europe.
Faurecia decided to establish itself in Kenitra because of a competitive cost structure, a quality workforce and the development of the automotive industry in Morocco.
Commenting on the signing of the investment agreement, Patrick Koller said: "With this new factory, Faurecia is continuing the deployment of its industrial system in a country where the automobile is taking an increasingly important place, both in the national economy and in the daily lives of Moroccans. I am confident about the development of our new business in Kenitra and I would like to thank the Moroccan state for its warm welcome and the efficiency of its support."
The new Faurecia cutting and sewing factory will have an 8,300m² building on a 27,000m² plot of land. The cutting and sewing activity includes fabric preparation, template cutting of seats and then sewing these textiles for the manufacture of seat covers (exterior coverings). After a rapid ramp-up on several programs, the site's workforce should eventually reach 650 people.
Faurecia is one of the world leaders in automotive equipment in six major vehicle product lines: seats, dashboards, doors, acoustics, front-end modules and exhaust systems. In 2007, the Group achieved sales of 12.7 billion euros. It is present in 28 countries and employs 60,000 people at 190 sites. Faurecia is listed on the NYSE Euronext Paris stock exchange.
Posted on March 18, 2008
Bourse.lci.fr
The investment agreement with the Moroccan government was signed today in Rabat by Mr. Ahmed Reda Chami, Minister of Industry, Trade and New Technologies, Mr. Jamal Aghmani, Minister of Employment and Vocational Training of the Kingdom of Morocco and Patrick Koller, Director of Faurecia's Automotive Seating business.
The new factory (Faurecia Equipements Automobiles Maroc) will supply Renault-Nissan and Volkswagen Group production sites in Europe.
Faurecia decided to establish itself in Kenitra because of a competitive cost structure, a quality workforce and the development of the automotive industry in Morocco.
Commenting on the signing of the investment agreement, Patrick Koller said: "With this new factory, Faurecia is continuing the deployment of its industrial system in a country where the automobile is taking an increasingly important place, both in the national economy and in the daily lives of Moroccans. I am confident about the development of our new business in Kenitra and I would like to thank the Moroccan state for its warm welcome and the efficiency of its support."
The new Faurecia cutting and sewing factory will have an 8,300m² building on a 27,000m² plot of land. The cutting and sewing activity includes fabric preparation, template cutting of seats and then sewing these textiles for the manufacture of seat covers (exterior coverings). After a rapid ramp-up on several programs, the site's workforce should eventually reach 650 people.
Faurecia is one of the world leaders in automotive equipment in six major vehicle product lines: seats, dashboards, doors, acoustics, front-end modules and exhaust systems. In 2007, the Group achieved sales of 12.7 billion euros. It is present in 28 countries and employs 60,000 people at 190 sites. Faurecia is listed on the NYSE Euronext Paris stock exchange.
Posted on March 18, 2008
Bourse.lci.fr
