Portugal's Simoldes Group is reported to be ready to invest in the creation of a plastics processing complex aimed at targeting automotive customers in North Africa.
The leading mold maker and molder joined a string of other established global auto parts suppliers in July to sign investment deals with the Moroccan government for new local industrial schemes.
Simoldes, based at Oliveira de Azeméis near Porto in northern Portugal, is understood to have agreed a development contract to build a 10 hectare industrial complex in Morocco. This includes a new plant to produce injection molds along with injection molded exterior and interior vehicle components.
The group, whose plastics division Simoldes Plásticos last year launched another 30 million euro ($33 million), 22,000-square-meter production unit at Rychnov nad Kněžnou in the Czech Republic, is set to invest almost 60 million euros ($72.7 million) in constructing and equipping the Moroccan complex.
Signing of the corporate project agreements took place in July at the Royal Palace in Casablanca in the presence of King Mohammed VI during the official launch of the country's investment reform plan.
The group's plastics division has seven offshoot manufacturing businesses in France, Brazil and Poland with technical and commercial units in France, Germany and Spain. Overall, it is equipped with 300 injection molding machines, each from 80 to 3,200 metric tons of clamping force. Each plant has around 40 machines, according to Simoldes.
The Portuguese group's Czech unit began delivering interior vehicle parts, bumpers and other plastics components to Skoda and other businesses of the Volkswagen group towards the end of 2015.
