French automotive supplier MGI Coutier, which specializesin manufacturing plastic and rubber conduits, will open a factory in El Jadida in early 2016, the company announced.

The factory, which costs an investment of 4 million Euros, will produce MGI Coutier products that are currently produced in Romania, and will supply the Renault factory in Tangier.

“Today, many of the products for Renault Tangier are manufactured in our factories in Romania. With this project, we will be able to save logistics costs,” MGI Coutier CEO Matthieu Coutier said.

The factory expects to employ 50 people in its first phase. It will produce mainly fluid management products, including conduits for fuel, washing, and circulating air. This activity accounts for 80 percent of turnover.

The company will mainly supply Renault Tangier, but also other clients, including Ford in Spain and PSA Peugeot-Citroen, which plans to open a factory in Kenitra in 2020, Coutier said.

“The choice to build our factory in El Jadida rather than in Tangier, where much of the automotive industry is concentrated, was to avoid some problems related to recruitment and wages, among others,” Matthieu Coutier explained.

The MGI Coutier group, which has about thirty industrial subsidiaries worldwide, reached a turnover with 692 million Euros and net result with 33.6 million Euros in 2014.

Original Source : Morocco World NewsFinancial Markets – Morocco World News

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