Morocco is set to play a bigger role in the plans of Swiss electronics company Cicor after the firm decided to move all of its North African operations to the kingdom. The company announced that it will sell its factory in Tunisia and focus its regional activities on its sites in Berrechid and Temara.
Cicor said it would sell its Borj Cédria factory in Tunisia for €1.3m. The site employs 90 people and makes electronic modules for medical and industrial customers. The factory was acquired in 2023 from Phoenix Mecano.
The sale is expected to be completed in June 2026. Cicor said it would have a small one-time impact on profits but would not affect revenue because the company will keep working with the same customers.
The move is part of a wider restructuring plan across the group. Cicor is also shifting some activities between sites in Europe and Asia and reducing management functions.
Around 220 jobs worldwide will be cut, representing about 5% of the company’s workforce. Only around 10 of those jobs are in Switzerland.
As a result of the changes, Cicor’s North African operations will now be centred on Berrechid and Temara.
The Berrechid site employs 128 people and specialises in making electronic circuit boards and electronic enclosures. The factory covers 7,000 square metres and operates three production lines. It has also absorbed activities from the company’s recent acquisitions of Valtronic and the former Éolane plant.
The Temara site employs 85 people and focuses on system integration and cable assembly for industries that require highly reliable products, including defence and rail transport.
Cicor said the move supports its strategy of keeping production closer to European customers and making supply chains more reliable.
The restructuring is expected to cost around CHF5m but the company believes it will increase annual earnings by around CHF10m once the changes are fully in place.
The company kept its financial targets unchanged for 2026. It expects revenue of between CHF700m and CHF750m, up from CHF616.5m last year. Adjusted earnings before interest, taxes, depreciation and amortisation are expected to reach between CHF70m and CHF80m.
Despite some challenges linked to production transfers and shortages of electronic components, Cicor said it remains on track with its growth plans.
The company aims to generate more than CHF1bn in annual revenue by 2028.
