Europac Inaugurates New Corrugated Packaging Plant in Morocco
The new packaging plant in Tangier (Morocco) has a maximum installed capacity of 100 million m2 of corrugated cardboard per year.
Jan. 19, 2016 - The Europac Group (Papeles y Cartones de Europa S.A.) today inaugurated Europac Packaging Med, a new integrated packaging factory in Tangier (Morocco).
José Miguel Isidro, the company's President, said, “The addition of this facility to the great Europac family represents the completion of a road map designed in 1998 with great satisfaction, when we defined how we would like the Europac Group to be in the future. Our goal was to grow in our natural markets, Spain, France, Portugal and Morocco, and today this becomes a reality."
The new packaging plant, which represents an investment of 30 million euros and will create 114 direct jobs when fully operational, has a maximum installed capacity of 100 million m2 of corrugated cardboard a year, which will be developed as the market grows.
The Tangier plant is the largest investment that Europac has made since 2010 and is the first outside of Europe and the first greenfield site.
Mr. Isidro pointedf out that Morocco is an important market for Europac. "The GDP growth rate in Morocco is estimated to be 5% in 2016, a figure much higher than the European average, and 50% of Moroccan GDP comes from the industrial and agribusiness sectors, sectors where the majority of our current packaging customers are concentrated,” Mr. Isidro said.
According to Europac, the location of the new plant is 20 kilometers from the Tangier Med Port, a reference port in the Mediterranean — the final destination for imported paper reels and starting point for the export of finished Moroccan products. Tangier Free Zone, another 20 kilometers from the factory, is the free trade area between Morocco and the European Union, and a catalyst for economic activity.
SOURCE: Europac Group