2023-12-13 22:00:00
After a presence of almost a decade in Morocco, Synthesia Technology, a key player in the sector of chemicals, polyesters and polyurethane systems for insulation, draws a line under its Moroccan adventure.
The subsidiary SM Polyurethanes, created in 2014, has just been put into liquidation, reports Challenge. With the main mission of marketing the products of its parent company on the Moroccan market, the company did not achieve the expected objectives, capping a turnover of less than 10 million dirhams.
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Faced with tough competition, both from more aggressive European suppliers and from local manufacturers, SM Polyurethanes was unable to take off. This situation occurs in a context where Synthesia Technology, a Spanish group acquired by the Irish Kingspan, has focused on optimizing its activities, seeking to achieve critical size and increased industrial efficiency on its three production sites.
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