Safran teams up with Moroccan government to develop Research & Technology in Morocco
Paris, June 18, 2014
Jean-Paul Herteman, Chairman and CEO of Safran, Lahcen Daoudi, Moroccan Minister of Higher Education, Scientific Research and Executive Training, and Omar Fassi-Fehri, Permanent Secretary of the Hassan II Academy, signed a Memorandum of Understanding concerning the development of Research & Technology (R&T) in Morocco, on June 13, 2014 in Fez.
The aim of this agreement is to nurture the rise up the skills chain of higher education in the country, by creating high-level doctoral courses in aerospace subjects, while also meeting Safran's local production and R&T requirements.
The total funding of one million euros over five years will be equally provided by Safran and the Moroccan Ministry of Higher Education, Scientific Research and Executive Training.
The signature of this agreement falls within the scope of Morocco's Plan Emergence*, and supports Safran's significant presence in the country. With the recent creation of the holding company Safran Maroc, Safran now has eight Moroccan entities with 3,000 employees, accounting for about 25% of the total Moroccan workforce in the aerospace industry.
The three signatories have already identified research subjects, covering composite materials and production processes, mechanical and mathematical engineering and onboard systems.
*Plan Emergence is a national Moroccan pact initiated by King Mohammed VI to establish a strategy for the manufacturing and service industries, and to spur the development of new technologies. Launched in 2009, it will run until 2015.
Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security. Operating worldwide, the Group has 66,300 employees and generated sales of 14.7 billion euros in 2013*. Working alone or in partnership, Safran holds world or European leadership positions in its core markets. The Group invests heavily in Research & Development to meet the requirements of changing markets, including expenditures of 1.8 billion Euros in 2013. Safran is listed on NYSE Euronext Paris and is part of the CAC40 index.
* Sales in 2013 restated for the impacts of IFRS11 amounted to 14.4 billion euros.
For more information, www.safran-group.com / Follow @SAFRAN on Twitter
Direction de la Communication
2, bd du Général Martial Valin
75724 Paris Cedex 15 – France
Tél +33 (0)1 40 60 80 28
Tél +33 (0)1 40 60 82 20