MOROCCAN PAINT SECTOR DODGES GLOBAL RECESSION BULLET
November 1st, 2009
BY PAUL COCHRANE
MOROCCO'S 150,000 tonnes per year decorative paint market, worth Moroccan Dirham (MAD) 2 billion (GBPounds 157.4 million), grew by an estimated 5 to 8% in 2008, but plunged by 30% in December in the wake of the financial crisis, according to paint manufacturer Hempel Morocco (NOTE - SPELLING IS CORRECT). The first quarter of 2009 saw slow sales as real estate projects were put on hold, but with Morocco not as affected by the financial crisis asEurope, the sector is slated to rebound by the year's end and going into 2010. Infrastructure projects, ...
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