Alstom and Nexans Sign Cabliance Agreement
Image courtesy of Alstom
Alstom and Nexans have agreed new terms of governance for Cabliance, a joint venture established in Fès, Morocco, with a 50/50 holding. The agreement follows a five year partnership, with Alstom acquiring the requisite shares to make them the exclusive owner of Cabliance.
The joint venture, established in 2011, relates to the manufacture of cable bundles for rail applications and electrical switchboxes. Alstom have designed sub-assemblies while Nexans managed industrialisation and production. The contract will come into force after Nexans has handed over the necessary skills for its Moroccan partners to master cutting-edge technology. Cabliance has 250 staff and had a turnover of €13.7million in 2015.
Gian-Luca Erbacci, Senior Vice-President of Alstom for the Middle East and Africa said:
“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.”
Karim Bennis, Managing Director of Nexans Morocco said:
“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.”
Cabliance delivered the first Citadis tramway to Casablanca in 2012 and equipped Morocco’s high-speed train line. The joint venture’s turnover has doubled every year since it was established, and has good prospects based on its past success, robust corporate culture and adaptable staff and resources.