AGC Automotive Europe has reached a basic agreement with Induver Holding, a glass manufacturer in Morocco, to set up a joint venture for manufacturing automotive glass destined both for Europe and for the North African markets.
This move marks the AGC Group’s first operations in Africa. As a part of the deal, AGC will acquire a stake in Induver, which specializes in automotive glass for the aftermarket and commercial vehicles as well as glass for building applications. The deal is subject to approval by the relevant local authorities.
The new joint venture will produce tempered glass for backlites and sidelites, and laminated glass for windshields, according to the company’s statement. More than 1.1 million car sets are expected to be produced annually. The facility will be built in Kenitra province in the northern coastal area of Morocco and is expected to start commercial production in 2019. It will employ 600 at about the time it opens.
“Various western carmakers have already established or announced operations in Morocco,” says Jean-Marc Meunier, general manager of AGC Automotive Europe. “This investment is in line with our strategic willingness to accompany our customers in their expansion and respond to their demand for high value added products and services.”