The French giant Saint Gobain continues to invest in Morocco.
The world leader in materials for sustainable housing has just recapitalized up to 120 million dirhams its main Moroccan subsidiary, namely Saint Gobain Sekurit Morocco (SGSM) which manufactures on its Atlantic Free Zone (AFZ) industrial site in Kenitra windshields, rear glasses and side windows for the automotive industry. This operation, which brings the capital of this subsidiary to more than 830 million dirhams, aims to complete the financing of Phase 3 of its investment program totaling more than 600 million dirhams and gradually initiated since its creation in 2012.
With this new stage in its development in Morocco, the group listed on the Euronext Paris intends to hoist, from 2021, the production of SGSM to more than one million units of Car Set against nearly 800,000 currently.
As part of the innovative materials for sustainable development (in particular automotive glazing and high performance materials) division of the Saint Gobain group, SGSM is one of the leading suppliers to Renault factories in Morocco, but also to the PSA group since the launch of its production in Morocco in 2019. With the new investment, this subsidiary will have to exceed, by 2022, the bar of one billion dirhams for a workforce of several hundred employees.
Recall that the Saint Gobain group is present industrially in 67 countries including 7 African countries (Morocco, Algeria, Egypt, South Africa, Zimbabwe, Tanzania and Ghana). At the end of 2018, its world turnover touched on 42 billion euros (nearly 450 billion dirhams), for a net current result of 1.8 billion euros (almost 20 billion dirhams). Besides SGSM, which has become its main asset, the Saint Gobain group has two small abrasive factories in Morocco (one in Meknès and another in Casablanca), a plaster factory in Safi developed as a joint venture with the cement manufacturer Lafarge-Holcim, as well as a unit for manufacturing mortars and plasters in Dar Bouazza, about thirty kilometers southwest of Casablanca.