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Minco invests 150 million dollars in its Moroccan company

Par, le 11 Avril 2007

Americans trustful in the precision of Moroccan labour. Second large investment for the American company Minco. Specialized in electronics, in particular in space aeronautics, the company comes to inject an amount of 150 million dollars in its Moroccan subsidiary company Minco Product, based in the buildings of Onda with Nouaceur.
Objective, the construction of a new factory on a surface of 3.500 m2, with a potential of extension of 6.500 m2. Discounted manpower is of 250 people by 2011 and of 400 after this expiry “according to the first 5 years results”, the persons in charge indicate. Work must start next May and emménagement is planned for the summer 2008.

Minco invests 150 million dollars in its Moroccan company
An investment of size to which Amcham, the American Chamber of Commerce in Morocco, devoted, last on April 10 in Casablanca, a conference placed under the topic “Minco in Morocco, reasons of a strategic choice and plans with a future”. During this meeting, Yann Square, the director of Minco Product, explained the reasons which led to the choice of Morocco. In front of the need for increasing its outputs, the company had to operate a strategic choice between the United States, Asia and Morocco. Considering the advantages offered in terms of qualification and cost of labour, of geographical and cultural proximity with France and Europe, it is Morocco which was finally selected. And it is in August 2006 that a convention was signed between Minco Us and the government, including/understanding three shutters: the support of the funds of assistance Hassan II, co-operation with Ofppt for and the measurement staff training of customs simplifications.

Minco Product whose production actually started in December 2006 then included/understood a manpower of 35 people. Currently, the company manufactures only four products in Morocco. They are the wound elements, of the probes of stages, the probes and the ceramic elements. In one second phase, certainly after extension, it is envisaged to manufacture laminar sensors (23% of the sales turnover) and heaters (40% of the sales turnover) considered as products whose design is very pointed. On this subject, Yann Carrez regard that it is a proof of confidence, because it is really about high technology which requires an extreme delicacy. “We are convinced that Moroccan labour will be very powerful”, it underlined. A point moreover for the Emergence plan, of which the ambition is to attract investments in the priority sectors for Morocco, whose aeronautics places list at the head. Until today, the Morocco attractivity was exerted only on the French companies which dominate the sector. Thanks to ALE with the USA, Minco Product will certainly not remain only a long time.