Fenie Brossette has called a shareholder meeting to approve a 99-year extension to its lifespan, as the company nears the end of its current term.
Shareholders will vote at an Ordinary and Extraordinary General Meeting on 23 June 2026. The firm said its statutory term will expire on 22 March 2027.
The proposal states the company would continue “for a new period of 99 years from 23 March 2027, unless dissolved earlier or extended again in line with legal and statutory provisions”.
The change requires an amendment to Article 5 of the company’s statutes, which governs its duration. The firm described the move as a legal and procedural step to ensure continuity. It does not involve any capital increase or financial restructuring.
The meeting, to be held by videoconference, will also consider routine items. These include approval of the 2025 accounts, allocation of net profit, regulated agreements, board fees, and the renewal of mandates for directors and the statutory auditor.
A leadership change is also on the agenda. Shareholders will be asked to ratify the appointment of Brahim Chamar as director and chief executive, following the resignation of Jamal Benyahia. The board had already appointed Mr Chamar to the role in December 2025.
Mr Chamar, an engineer who joined the company in 2015 and became deputy chief executive in 2017, is leading a 2026 to 2030 development plan aimed at expanding the company’s market reach and long-term value.
For 2025, the company plans to allocate its net profit of 17.90 million dirhams to retained earnings. After this, accumulated losses would stand at 85.46 million dirhams.
The vote comes after a year of stronger performance. The company reported consolidated revenue of 757 million dirhams in 2025, up 8% from 2024, driven by demand in construction, public works and automotive activities. Operating income rose by 31%, an increase of 7.6 million dirhams, supported by tighter cost controls and improved execution despite some foreign exchange pressures.
Founded in 1928 and based in Casablanca, the company operates across construction equipment, industrial systems and transport solutions. Its activities include the distribution of heavy machinery, scaffolding and formwork, industrial piping and pumping systems, power generation equipment, and public lighting infrastructure. It also supplies commercial and off-road vehicles through partnerships with international manufacturers.
The firm has in recent years expanded into renewable energy, offering solar pumping systems, solar panels and energy efficiency solutions.
While most of its revenue comes from Morocco, it also exports to markets in West and Central Africa.
Fenie Brossette is a subsidiary of Bank of Africa and is listed on the Casablanca Stock Exchange under the ticker FBR.
