Spanish Chemical Firm Exits Morocco Amid Tough Market Competition

The subsidiary SM Polyuréthanes, created in 2014, has just been placed in 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 at a turnover of less than 10 million dirhams.

Faced with fierce competition, both from more aggressive European suppliers and local manufacturers, SM Polyuréthanes has failed to take off. This situation comes at a time when Synthesia Technology, a Spanish group acquired by the Irish Kingspan, has focused on optimizing its activities, seeking to achieve critical mass and increased industrial efficiency on its three production sites.