Moulay Hafid Elalamy has signed an investment agreement of 1 billion and 183 million dirhams with AGC Automotive Europe and INDUVER. This agreement will allow the production of 1.2 Million carset glazing per year and will cover an almost complete offer of the automotive glass industry.
Indeed, this afternoon, as we announced in a previous article, Moulay Hafid Elalamy, Minister of Industry, Trade, Investment and the Digital Economy, Jean Marc Meunier, President of Board of AGC automotive Europe and Abdelmoumen Hakim, President of INDUVER proceeded to the signing of an investment agreement in the automotive sector.
What form will this tripartite partnership take? According to the minister, “the partnership between AGC AUTOMATIVE, world leader in automotive glass, and INDUVER MOROCCO shall take the form of a joint venture and will be divided through the creation of an industrial unit” AGC Automotive INDUVER Morocco ” in Kenitra, specializing in the production of tempered glass for rear glasses and side windows as well as laminated glass windshield. In parallel, AGC AUTOMATIVE will attend to 45% of the capital of INDUVER and ensure a transfer of know-how and support in its commercial development in Europe. ”
This participation in the capital of INDUVER, as emphasized by the minister, “will, thus permit, the latter to be more open to the international market, diversify its product line and gain competitiveness and quality, and the Japanese industry to strengthen its position in the African continent. ”
In his statement on the occasion of this convention, Hafid Elalamy, said that it “is in the deployment of the Renault ecosystem, launched under the Effective Presidency of His Majesty King Mohammed VI in April 2016 and whose goal is to unite around a cloth manufacturer suppliers to form a powerful ecosystem promoting value rise in the subsidiaries and further integration of the automotive value chain. ”
“With the commissioning of the AGC Automotive INDUVER Morocco plant, we operate in a real rise in range in the sector that will ensure almost complete coverage of the glass industry,” added the Minister.
The Chairman of the Board of AGC Automotive Europe specified that “the group’s investment decision in Morocco is strongly related to positive prospects for the development of the Moroccan automotive industry. The ecosystem approach, he added, was a decisive factor in this choice, we were impressed by the consistency of the overall approach and the strong involvement of Moroccan teams. ”
The President of INDUVER said that “thanks to the momentum established by ecosystems, many opportunities are presented to manufacturers in the industry, including INDUVER which through investment with Japanese group in a major new industry in Morocco, gets in the automotive industry on an international scale. ”
About INDUVER and AGC Automotive:
• INDUVER, established in 1947, is a Moroccan company specialized in production of automotive glazing for the market of medium series vehicles, assembly lines of industrial vehicles, spares and para-motor (tractor cabins and construction equipment, vehicles without permits, …) as well as glazing for construction. It provided until 2012 to Morocco; Renault and PSA Peugeot Citroen laminated windshield, door front and rear windows, rear quarter and rear windows deicing.
• AGC Automotive Europe is part of the Automotive Division of the AGC group (Asahi Glass Co Ltd). It specializes in the production and distribution of glazing systems (original equipment and replacement) for automaker
