News Agencies Feed :

    New Adient Automotive Seating Factory Opens in Morocco

    Morocco considers the automotive sector one of the pillars of Morocco’s economy.

    13 May 2022

    Rabat - A new Adient Automotive Seating factory was opened in Kenitra’s Industrial Acceleration Zone near Rabat on May 11.

    Minister of Industry and Trade Ryad Mezzour xhaired the inauguration ceremony of the factory, which cost an estimated MAD 72 million ($7.13 million) to build.

    The factory, which specializes in the manufacturing of covers for car seats, takes up an area spanning 25,000 square meters, with possible future extension to6,500 square meters..

    The unit is employing 600 people and is forecasting its workforce to jump to over 1,300 by 2025.

    Mezzour expressed his satisfaction with the opening, saying that “by strengthening its presence in Morocco, the group is also reinforcing its leading position on the local market while becoming an important export platform to the automotive market in southern provinces.”

    The official said that the new factory will improve Morocco’s automotive value chain by introducing another specific product produced locally.

    Adient Automotive Seating Maroc has a 33% share in the global market. The group’s sales amounted to $24 million 2021, equipping over 250,0000 vehicles annually. By 2025, Adient Automotive aims to reach $100 million in annual sales and equip 750,000 cars by 2025.

    The group has large international customers, including the Peugeot S.A (PSA) group.

    Morocco considers its vast automotive industry as one of the pillars of the country’s economy. Over 200 automotive suppliers are currently active in Morocco.

    A study from advisory firm Mordor Intelligence estimated last year that Morocco’s auto industry is set to grow by $14 billion in the next five years

    Another report from the Oxford Business Group estimated that the domestic auto industry accounted for about 19% of the Moroccan GDP in 2019, and the group predicts this percentage will increase to about 24% by 2022.

    moroccoworldnews

    Stock Market

    Index

    Value

    Change

    Open

    MADEX

    9 209,87

    0,82 %

    9 135,23

    MASI

    11 329,76

    0,81 %

    11 238,86

    FTSE CSE

    10 269,41

    0,50 %

    10 218,62

    Contact US | © 2020 All Rights Reserved