Morocco, SNECMA Group sign aeronautic investment agreement
Morocco-France, Business, 3/12/2005

An investment agreement, worth MAD 100 million (Euro 10 mln) was signed, in Rabat Friday, between the Moroccan government and Hurel-Hispano, subsidiary of the French SNECMA Group, to build a plant to manufacture nacelles mechanical parts for commercial airplanes and for aeronautic composites.

The unit will be operational by February 2006, and is expected to create some 300 specialized jobs.

Hurel-Hispano is a European leader in the conception and fabrication of nacelles, and an important subsidiary of the SNECMA group for composites.

Moroccan Premier, Driss Jettou, who presided over the signing ceremony of the agreement, voiced the government's interest in the field of aeronautic industry, highlighting the North African kingdom's geographical asset, mainly geographic proximity with Europe.

Hurel-Hispano CEO, Jean-Claude Lepage, affirmed that carrying out this project in Morocco, which comes in line with the firm's development strategy, crowns the "satisfactory results" achieved in previous experiences.

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