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|Eaton Invests US$12 Million in Construction of New State-of-the-Art Manufacturing Facility in Casablanca|
|Posted: Mon Jun 16, 2014 01:36:12 PM|
June 16, 2014 - CASABLANCA - Power management company Eaton (NYSE:ETN) today announced it will invest US$12 million in the development of a new state-of-the-art manufacturing facility in Casablanca’s Midparc Free Zone.
To celebrate the beginning of construction work, a ground-breaking ceremony was today held at the site attended by Moulay Hafid El Alamy, Minister of Industry, Trade and New Technologies, Frank Campbell, EMEA president of Eaton’s electrical sector business, Hamid Benbrahim El Andaloussi, CEO of Midparc SA, Omar El Yazghi, President of MEDZ along with Eaton customers, partners and employees.
Eaton will move 200 staff from its existing Morocco operations to the new facility in the first phase of the project, due for completion in 2016. Eaton will also establish the assembly of a new line of power distribution units primarily used in IT and data center applications. In the first phase, the project is expected to create an additional 300 direct jobs, in addition to several hundred indirect jobs resulting from a drive by Eaton to significantly increase local sourcing of materials. Eaton may expand production at the Midparc facility to support Eaton’s other businesses, including Aerospace and Hydraulics in future construction phases.
In advance of the ground-breaking ceremony, Eaton today signed an agreement with the Moroccan Government that formally recognizes Eaton’s intent to do business locally under the provisions of the National Industrial Acceleration Plan, which aims to promote the development of Morocco’s aerospace and electronics industries.
Eaton has contributed to the development of Morocco’s electrical infrastructure for more than four decades and began manufacturing in the country 15 years ago.
Commenting on Eaton’s latest investment in Morocco, Campbell said: “We are investing in Morocco due to Eaton’s previous experience in the country, its skilled workforce, stable economy and close proximity to our core European and African customers. There was also alignment between our objective to increase local sourcing and the Moroccan government’s National Pact of Industrial Emergence, which is helping to nuture a growing eco-system of local suppliers that will ensure the long term sustainability of our manufacturing operations in the country.”
“Eaton’s commitment to construct a major production facility in Morocco and source materials from local suppliers is a clear indication that the National Industrial Acceleration Plan is working,” commented Minister El Alamy. “Eaton joins a growing number of global businesses that are investing to help establish Morocco as a key production center for the aerospace and electrical industries.”
“Morocco’s proximity to Europe, its free trade agreements with the European Union and skilled labor force make it the obvious choice as a manufacturing hub to better serve the needs of its customers across the region,” said Mr. El Andaloussi. “Midparc’s free zone status also provides exporting companies an additional incentive to set up operations in this strategic location.”