LONDON – Minister of Industry and Trade Ryad Mezzour and the Vice President of Supply Chain at Collins Aerospace, Kristopher Pinnow, on Monday signed a memorandum of understanding (MOU) aimed at creating in Morocco a supply ecosystem for Collins, a global specialist in aerospace and a subsidiary of US company Raytheon Technologies.
The agreement, which is part of the development of aerospace projects to strengthen the sector's competitiveness in Morocco, was signed on the sidelines of the Farnborough Airshow, held from July 18 to 22.
The Collins ecosystem will be revolved around suppliers and a sourcing platform based in Morocco.
It will create 800 jobs and generate a cumulative turnover of USD 1 billion by 2032, according to both parties.
“The birth of this new ecosystem carried by this global giant of the sector is the outcome of a successful strategic partnership, which opens great horizons for the development of aeronautics in Morocco," Mezzour said in a statement.
"Thanks to the vision of His Majesty King Mohammed VI, the Moroccan aerospace platform demonstrates, once again, its resilience to the global crisis, its attractiveness, and its competitiveness at the international level through the continued development of its value chain."
The Collins ecosystem will contribute to the transfer of know-how to local operators, to the creation of jobs for young people and to Morocco's efforts to keep up with world trends turned towards sustainable production, thus creating a virtuous circle of prosperity within the national economy, he added, noting that this project opens a new chapter in a long history of ambitions and successes.
Collins Aerospace has been present in Morocco since 2011 through its subsidiary Ratier Figeac Maroc, which specializes in mechanical subsets for cockpit and cabin equipment. (MAP)