The chemical industry Eurotex Morocco is strengthening in Tangier. Its parent company, the Spanish group Eurotex, is planning a 10% increase in headcount over the next three years and, in this perspective, is preparing for the extension of its Tierino subsidiary. The project is supported by Cofides (Spanish Company for Financing and Development), a public-private company accredited to the EU for the management of the Community budget.
As such, the entity grants a joint investment loan of € 200,000 from its own resources (25%) and Fonpyme (75%) to the company specialized in the production and distribution of paints. The total budget and the contribution of the promoter are 315,000 euros (about MAD 3.3 million).
The investment has a double challenge, firstly to ensure the expansion of the Tangier site, but also to support the extension project of the Eurotex group’s activity in the production of paints for parts manufacturers and manufacturers. repair shops. Riding on this evolution of the market, “we intend to concentrate our activity on the car auxiliary sector,” explains the group.
Strong infrastructure and automotive development is helping to boost demand for paints and coatings. In Morocco, the automobile has become, in a few years, the main export sector. It is positioned as the first position with 44.5% of industrial exports, a total of MAD 70 billion in 2018.
Added to this is the increasing environmental sensitivity, which is leading to an increase in the demand for paints and coatings with a low content of organic and volatile compounds.
The Eurotex Group employs 120 people in Spain and 22 in Morocco. Founded in 1981, the paint and varnish manufacturer has its main production center in El Viso de Alcor (Seville). It has facilities of 33,000 square meters and a production capacity of 150 tons per day.