This case deals with the only flat steel producer in Morocco: Maghreb Steel, the Moroccan family-owned company created in 1975 by the SEKKAT family. It is a leading steel company.

The top management of Maghreb Steel launched in 2007 in the adventure to create the first production complex of cold rolling in Morocco. An investment that pushed Maghreb Steel to resort to a debt of more than 6 billion dirhams and would have allowed the company a huge leap in growth, except that the decision makers of the group Sekkat could not see coming the economic crisis of 2008 causing the fall of steel prices by 62% compared to 2007. Thus, from its effective launch in 2010, the activity of hot rolling will become, for the company, a regrettable orientation. Faced with this situation of sectoral crisis and deterioration of its activity, Maghreb Steel lost its ability to honor its financial commitments with the banking consortium.

This said, the present case is dedicated to the financial and strategic analysis of the current situation and the evolution of the company throughout the crisis period in order to finally propose a suitable recovery plan to save Maghreb Steel