Guizhou Tyre has registered a subsidiary in Morocco, marking a further step towards its planned second overseas tyre production base.
Advance Tyre Morocco SAS was registered on 19 October at Mohammed VI Tangier Tech City, according to a stock-market announcement published by Guizhou on 22 October.
The subsidiary is wholly owned by Guizhou Qianjin Tyre Investment, itself a wholly owned Guizhou Tyre subsidiary. Its registered activities cover the manufacture and sale of tyres and other rubber products.
The new company has registered capital of 99,000 Moroccan dirhams, approximately €9,000. This is the subsidiary’s registered capital, separate from the proposed factory investment.
Guizhou’s project calls for a factory with an annual capacity of six million semi-steel radial tyres. The Chinese Rubber Industry Association reports that the planned total investment is approximately US$298.7 million.
In an August project update, Guizhou said it had completed the Chinese domestic approvals and registrations required for the investment. At that stage, the company said it would continue preparations including securing permission for the project to enter the industrial park and establishing the Moroccan subsidiary.
The registration gives the project a local company through which Guizhou can develop its plans. Further project preparations remain relevant to its progress.
Morocco has an established automotive manufacturing sector. Renault operates a vehicle plant in Tangier, while Stellantis has a manufacturing operation in Kénitra.
Tags: Guizhou Tyre, Advance Tyre Morocco, Morocco tyre factory, Tangier Tech City, tyre manufacturing, tyre production capacity, tyre industry investment, overseas tyre production, Moroccan automotive industry
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