Automotive supplier Magneti Marelli signs an agreement with officials in Morocco to build a manufacturing facility in the North African country.
The €37 million ($43.6 million), 216,000-sq.-ft. (20,000-sq-m) plant in the northern city of Tangier will produce shock absorbers for cars and commercial vehicles beginning in 2019. Maximum annual capacity will be 6 million units, and about 500 people will be employed at the plant by 2025, with other products possibly added in the future, Magneti Marelli says in a news release.
“We are delighted to be a partner of the Moroccan State in one of the strategic objectives of the country, the development of the automotive industry,” Magneti Marelli CEO Pietro Gorlier says. “For Magneti Marelli, the creation of an industrial site in Morocco represents an opportunity to further expand its business, responding to the demands and needs of a number of key clients that are making important investments in the area.”
‟The Magneti Marelli project feeds the manufacturing and sourcing ecosystems in the context of (Morocco’s) industrial accelerated plan,” says M. Moulay Hafid Elalamy, Morocco’s Minister of Industry, Investment, Trade and the Digital Economy. “With this new project, a new craft is being developed in Morocco, the value chain is getting more complex, and the sector is gaining from a successful integration.”
Magneti Marelli, a subsidiary of Fiat Chrysler Automobiles, designs and produces advanced systems and components for all major automakers in Europe, North and South America and the Asia Pacific region. It employs 43,000 people at 86 production facilities and 12 R&D centers in 19 countries.
