Kitco News
by Christoph Steitz
Reuters
Germany’s Thyssenkrupp will build a sales and production site to boost its aerospace business in Morocco, it said, adding it has already reached supply agreements with aircraft parts group Figeac Aero and ARM Group.
The facility, to be opened in the summer, will be located close to Casablanca and offer material storage and processing services, Thyssenkrupp said in a statement on Thursday, declining to say how much it would invest in the site.
Employing more than 1,800 staff in over 20 countries, Thyssenkrupp Aerospace is part of Thyssenkrupp’s Materials Services division, which made 13.67 billion euros ($17 billion) of sales last year, nearly a third of the group’s total.
“This new site underlines our ambition to be a reliable and strong partner alongside our customers,” Joachim Limberg, chief executive of Thyssenkrupp Materials Services said.
The site will offer warehouse space of more than 2,000 square metres for raw materials including aluminium, steel and titanium, the company said. ($1 = 0.8038 euros)
(Reporting by Christoph Steitz, editing by David Evans)
