Shandong Daye, a Chinese manufacturer of bead wires, has announced plans to invest over USD 208 mln in a new factory in Morocco, according to the company’s stock exchange filing. The facility will be constructed in two phases and is expected to have an annual production capacity of 100,000 tons for both tire bead wires and steel cords.
The first phase is scheduled for completion by the end of 2026, during which the factory will produce 40,000 tons of each product. To oversee the project, Daye will establish a subsidiary called Daye Morocco Co. Ltd. However, the specific location of the new facility in Morocco has not been disclosed.
This foreign investment aims to bolster the company’s ability to adapt to fluctuations in the macroeconomic environment and changes in industrial policies, while mitigating the potential adverse impacts of shifting international trade patterns. By capitalizing on Morocco’s strong industrial base and strategic location, Daye intends to enhance its product and service offerings to both existing and potential customers, thereby improving its core competitiveness and overall economic performance.
