Jtekt includes Morocco plant in European asset sale deal
Japanese automotive supplier Jtekt has agreed to transfer several of its European-facing operations, including a manufacturing site in Morocco, as part of a broader restructuring of its international business portfolio. The transaction forms part of a share transfer agreement with an investment entity linked to the German-based DUBAG Group and covers seven consolidated subsidiaries.
The agreement, announced on May 27, still requires approval from relevant regulatory authorities before completion. The portfolio included in the deal spans operations across multiple regions, including France, the Czech Republic, Belgium, the United States, and Morocco. The structure of the transaction reflects a broader effort by the company to streamline its European footprint and adjust its global manufacturing strategy.
The divestment is part of Jtekt’s medium-term management plan covering the 2024 to 2026 fiscal period. The company has been reorganizing its European operations with a stated focus on improving profitability and returning regional business performance to positive territory. The restructuring includes consolidation and reassessment of production assets linked to its automotive supply chain.
The Moroccan subsidiary, Jtekt Automotive Morocco S.A.S., is located in Tangier within Tanger Automotive City. It represents the company’s first industrial platform in Africa and the Middle East, established after the group confirmed its investment in the country in 2017. The site supplies international manufacturers operating in Morocco, including Renault and PSA, and also serves export markets.
The Tangier facility produces electric power steering systems and steering columns. At launch, it was designed with an annual production capacity of around 230,000 electric power steering units. The investment was valued at approximately 220 million dirhams and covers about 11,300 square meters. The company continues to adjust its operations across regions as it aligns production assets with shifting demand in the global automotive sector.
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