Ficosa, a Spanish multinational corporation, devoted to the research, development, production of systems and parts for the automotive industry, inaugurated on Tuesday its first production plant in Rabat. The 50 million-euro facility is expected to offer 700 direct jobs, said EFE. The plant built on a 12 000 m² land is expected to generate a turnover of 150 million Euros in 2022. The company also said that the Rabat plant will produce electric cable sets and products dedicated to the local market, such as exterior mirrors, gear shifting systems and washing systems. Hoy estamos inaugurando la primera planta de Ficosa en Marruecos pic.twitter.com/AcKSlosvOE — Ficosa (@FICOSA_Int) 20 mars 2018 The inauguration of this site will boost the national automotive sector and allow Morocco to attract new companies operating in the same field, said the Minister of Industry, Trade, Investment and Industry, and Digital Economy, Moulay Hafid Elalamy. Ficosa's CEO Javier Pujol said that the opening of this first factory in Morocco «is a turning point for the firm», which allows it to enter the African continent for the first time since its foundation in 1949. Ficosa has more than 10,500 employees worldwide and is present in around 20 countries with production plants, sales offices and technical and R & D centers. The company, which achieved a turnover of 1,169 million Euros in 2016, maintains an alliance with Panasonic since 2015, which controls 69% of the capital.
