Alstom and Nexans signed an agreement defining the terms of a new governance for Cabliance, the joint venture set up in Fès, Morocco, with a 50/50 holding. After a five-year partnership, Alstom has acquired Nexans shares to become the exclusive owner of the company, Cabliance.
Within this joint venture created in 2011 and dedicated to the production of cable bundles for rail applications and electrical switchboxes, Alstom designed sub-assemblies and Nexans managed industrialization and production. The current change will take effect after Nexans, in cooperation with Alstom, has transferred the necessary skills for its Moroccan partners to manage the state-of-the-art technology in the sector. Cabliance currently employs 250 people and generated a turnover of EUR 13.7 million in 2015.
Alstom considers Morocco as a market with strong potential and a gateway between Europe and its new developing markets in sub-Saharan Africa and is delighted with this agreement, which will contribute to the economic and industrial development of the country.
„Acquiring a 100% holding in Cabliance confirms Alstom’s intention to continue its business in Morocco on a long-term basis and to remain a fully fledged industrial partner, investing in the strategic business segments of the Moroccan economy” declared Gian-Luca Erbacci, Senior Vice-President of Alstom for the Middle East and Africa.
„Nexans is proud to have contributed to the development of high-level local expertise for its Moroccan partners and the success of Cabliance. Nexans will continue along these lines and diversify its activities, as well as invest in new markets in Morocco and in sub-Saharan Africa,” commented Karim Bennis, Managing Director of Nexans Morocco.
Share on:
