Magneti Marelli and the Moroccan State Sign an Agreement for the Building of an Automotive Production Plant

DETROIT and MILAN, September 26, 2017 /PRNewswire/ --

        
        - The plant will be built in the area of Tangier with the start of production
          planned within 2019 
        - The initial production will be devoted to shock-absorbers for cars and commercial
          vehicles 
        - The Global amount of the investment is approximately 37 million euros  
        - The initiative aims to support Magneti Marelli clients locally in the North-African
          region 

M. Moulay Hafid Elallamy, Minister of Industry, investment, Trade and the Digital Economy, of Morocco, M. Mohamed Boussaid, Minister of Economics and Finance of Morocco and M. Pietro Gorlier, CEO of Magneti Marelli, signed an agreement concerning the installation of a manufacturing facility specialized in automotive components production which will deliver shock absorbers in the first phase.

(Photo:http://mma.prnewswire.com/media/562038/Magneti_Marelli_Production_Agreement.jpg )

(Photo:http://mma.prnewswire.com/media/562039/Magneti_Marelli_Production_Agreement.jpg )

The industrial zone will be located in Tangier, in the free zone "Tanger Automotive City", and will cover an area of approximately 20,000 square metres, with the possibility of subsequent expansion. The production capacity, when fully operational, will be approximately 6 million pieces. Production is forecast to begin within 2019, with the progressive employment of approximately 500 workers by 2025.

The project will require a global investment of about 37 million euros and will benefit from the support of the Moroccan State as provided by its automotive industry policy.

The activity will initially focus on the production of shock-absorbers for cars and commercial vehicles, with the possible extension of the scope to other products.

For Magneti Marelli, the localization of production in Morocco follows the logic of supporting locally the industrial sites and the business expansion of a number of important automotive clients in the North Africa region and marks the opening of a new market in the Maghreb area.

"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" - said Pietro Gorlier, CEO of Magneti Marelli. "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."

M. Elalamy who welcomes this new facility installation, highlighted that "the Magneti Marelli project feeds the manufacturing and sourcing ecosystems in the context of the Industrial Accelerated Plan. 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. The Magneti Marelli activity will benefit also to the network of the local suppliers to whom the Tangier factory will be getting its supply.

Magneti Marelli designs and produces advanced systems and components for the automotive industry. With 86 production units and 12 R&D centres in 19 countries, approximately 43,000 employees and a turnover of 7.9 billion Euro in 2016, the group supplies all the major carmakers in Europe, North and South America and the Asia Pacific region. The business areas include Electronic Systems, Lighting, Powertrain, Suspension and Shock Absorbing Systems, Exhaust Systems, Aftermarket Parts & Services, Plastic Components and Modules, Motorsport. Magneti Marelli is part of FCA. 

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SOURCE Magneti Marelli SpA