Boeing, Alphavest to Launch Five Excellence Centers in Morocco
The partnership aims to enhance Morocco's position in the global aerospace industry through engineering and high-precision manufacturing.
Morocco is set to bolster its presence in the global aerospace sector with a new collaboration between Alphavest Capital, a Casablanca-based investment firm, and Boeing, a US multinational corporation.
The two parties have signed a memorandum of understanding to jointly develop five centers of excellence focused on engineering and high-precision manufacturing within the country.
This strategic move is expected to significantly elevate Morocco's standing in the global aerospace value chain.
The collaborative effort encompasses enhancing logistics capabilities with an emphasis on engineering for airplane transport systems, including tubes, ducts, hoses, fittings, complex standard machined parts, and sheet metal, as well as secondary structures such as composite components and metal processing.
These centers will also focus on distribution services.
This development is part of a broader agreement between Boeing and Moroccan authorities, dating back to 2016, which highlights the company's commitment to strengthening Morocco's industrial base and supply chains.
According to Majid Benmlih, chairman and CEO of Alphavest, this 'historic' partnership signifies Morocco's ascension on the global aerospace stage.
He underscored that the agreement underscores Morocco's attractiveness as a best-value destination for aerospace projects due to its advantageous risk profile, quality, cost, and delivery capabilities.
This collaboration is the culmination of several years of joint efforts between Alphavest Capital and Boeing, particularly through the establishment and growth of TDM Aerospace.
TDM Aerospace, launched in 2017 through a partnership involving the Moroccan Aerospace Investment Co. and international entrepreneurs, stands as Morocco's first locally owned Tier 1 supplier.
It specializes in tube and duct assemblies for clients including Boeing.
Morocco currently hosts approximately 150 aerospace firms that generate an annual revenue of €2.5 billion ($2.7 billion) and employ around 26,000 workers across key cities.
The sector is diversified, encompassing fuselages, structural components, cabin interiors, and wiring systems.
The country aims to leverage its competitive costs and a workforce that trains 23,000 engineers annually to expand into new areas such as cabin outfitting, landing gear, and commercial aircraft assembly within the next decade.
Ihssane Mounir, senior vice president of global supply chain and fabrication at Boeing Commercial Airplanes, expressed pride in partnering with Alphavest to develop Morocco's aerospace supply chain capabilities and foster a skilled workforce.
This agreement reflects Boeing's commitment to supporting Morocco's vision to become a key player in the global aerospace industry.
The two parties have signed a memorandum of understanding to jointly develop five centers of excellence focused on engineering and high-precision manufacturing within the country.
This strategic move is expected to significantly elevate Morocco's standing in the global aerospace value chain.
The collaborative effort encompasses enhancing logistics capabilities with an emphasis on engineering for airplane transport systems, including tubes, ducts, hoses, fittings, complex standard machined parts, and sheet metal, as well as secondary structures such as composite components and metal processing.
These centers will also focus on distribution services.
This development is part of a broader agreement between Boeing and Moroccan authorities, dating back to 2016, which highlights the company's commitment to strengthening Morocco's industrial base and supply chains.
According to Majid Benmlih, chairman and CEO of Alphavest, this 'historic' partnership signifies Morocco's ascension on the global aerospace stage.
He underscored that the agreement underscores Morocco's attractiveness as a best-value destination for aerospace projects due to its advantageous risk profile, quality, cost, and delivery capabilities.
This collaboration is the culmination of several years of joint efforts between Alphavest Capital and Boeing, particularly through the establishment and growth of TDM Aerospace.
TDM Aerospace, launched in 2017 through a partnership involving the Moroccan Aerospace Investment Co. and international entrepreneurs, stands as Morocco's first locally owned Tier 1 supplier.
It specializes in tube and duct assemblies for clients including Boeing.
Morocco currently hosts approximately 150 aerospace firms that generate an annual revenue of €2.5 billion ($2.7 billion) and employ around 26,000 workers across key cities.
The sector is diversified, encompassing fuselages, structural components, cabin interiors, and wiring systems.
The country aims to leverage its competitive costs and a workforce that trains 23,000 engineers annually to expand into new areas such as cabin outfitting, landing gear, and commercial aircraft assembly within the next decade.
Ihssane Mounir, senior vice president of global supply chain and fabrication at Boeing Commercial Airplanes, expressed pride in partnering with Alphavest to develop Morocco's aerospace supply chain capabilities and foster a skilled workforce.
This agreement reflects Boeing's commitment to supporting Morocco's vision to become a key player in the global aerospace industry.
