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France’s FigeacAero to open production unit in Morocco
Rabat, Morocco (Capital Markets in Africa) – Morocco’s aeronautics industry continues to spread its wings. Following in the footsteps of other global heavyweights in aeronautics such as Bombardier and Airbus, a 25 million euros investment will be injected in the Moroccan aeronautics industry by FigeacAero, a French group specializing in mechanical aerospace.
The French company has confirmed plans to open a production unit in Casablanca which is expected to generate 500 jobs and an investment of 25 million euros over a period of 5 years.
FigeacAero is expected to locate their operations in the Casablanca industrial platform, Midparc.
The investment related agreements were signed on Tuesday, June 16th by Minister of Industry Moulay Hafid Elalamy and the French company on the sidelines of the Paris Air Show.
Jean-Claude Mailard, founder and CEO of FigeacAero said ‘the new production unit in Morocco is an important to step in line with the company’s business model.’
The aeronautics and aviation industry in Morocco generates over a billion euros in turnover and employs 10,000 people. Financial incentive packages and tax exemptions for investors lure several aerospace manufacturers, including Airbus, Dassault Aviation, Safran SA, and Bombardier.