Signing of an industrial partnership in the automotive sector

A 183 billion dirham investment

A virtually complete offer for the automotive glass industry

Mr. Moulay Hafid Elalamy, Minister of Industry, Trade, Investment and the Digital Economy, Mr. Jean Marc Meunier, COO & President of AGC Automotive Europe and Mr. Hakim Abdelmoumen, President of INDUVER have signed on 6 October 2016 an industrial partnership in the automotive sector.

This partnership which covers an investment of 1,183 million dirhams will allow the production of 1.2 million automotive glazing units per year, the creation of 650 highly qualified jobs and the generation of an export turnover of one billion dirhams.

The alliance between AGC AUTOMATIVE, world leader in automotive glazing, and INDUVER MOROCCO will take the form of a joint venture and translate into the creation of an industrial unit “AGC Automotive INDUVER Morocco” in Kenitra, specialized in the production of tempered glass for rear and side windows as well as laminated windshield glass. In parallel, MCO AUTOMATIVE will participate in up to 45% in the capital of INDUVER and will ensure know-how transfer and assistance for its commercial development in Europe.

The participation of the heavyweight Japanese company in the capital of INDUVER will enable it to continue expanding on the international market, diversify its product line and improve competitiveness and quality, while allowing the Japanese industry to strengthen its position in the African continent.

Mr. Moulay Hafid Elalamy underlined that this project fits within the deployment of the Renault ecosystem, launched under the effective presidency of His Majesty King Mohamed VI in April 2016 with the objective of federating around the manufacturer an efficient ecosystem favouring the development of the sector and a strengthening integration of the automotive value chain.

"With the commissioning of the AGC Automotive INDUVER Morocco factory, we are prompting a true upgrade of the sector which will secure a nearly complete glass industry offer", added the Minister.

For his part, the COO and President of AGC Automotive Europe noted that the decision to invest in Morocco is strongly linked to the positive perspectives for development of the Moroccan automotive sector. The ecosystems approach, he added, was a determining factor in this choice.

The President of INDUVER stressed that “thanks to the dynamics set up by the ecosystems, a great number of opportunities arose for the sector’s manufacturers, especially for INDUVER who, thanks to the investment of the Japanese group in a new industry in Morocco, has become a world class player in the automotive industry”.

About INDUVER and AGC Automotive:

INDUVER, founded in 1947, is a Moroccan company specialized in production of automotive glazing for mid-range vehicles, assembly lines for industrial vehicles, replacement and para-automobile (tractor cabins, building site machinery, licence-free cars,…) as well as construction glazing. It has supplied up to 2012 in Morocco Renault and PSA Peugeot Citroën with laminated windscreens, front and back door glazing, rear side windows and heated rear windows.

AGC Automotive Europe is part of the Automotive division of the AGC Group (Asahi Glass Co Ltd). The company is specialised in production and distribution of glazing systems (original equipment and replacement) for automotive manufacturers.