Morocco: Sonasid eyes cost savings from stronger link with Arcelor

摘要

Bonasid's partnership with Arcelor Mittal is expected to open the boors to greater billet and other raw material supplier. Synergies arising from the partnership will also enable Sonasid to reduce the costs of its raw materials. Arcelor on 31 May 2006 increased its share in Sonasid from 7.5 percent to 32.5 percent via a holding company net up with Morocco's Societe Nationaled'Investissement (SNI) and other Sonasid stakeholders. Sonasid, whose "first challenge is to increase production to meet strong local demand," says it is in talks with Arcelor Mittal on how to use the producer's expertise and technical knowhow to increase its output or finished steel.