May 7 (Bloomberg) -- Kinze Manufacturing Inc., an Iowa-based maker of farm machinery, will open it’s first factory outside the U.S. in Lithuania this year to support expansion in central and eastern Europe.
The Baltic plant is “geared to increasing sales in Russia, Ukraine and the whole of the European Union,” Kinze Vice President Susanne Veatch said today in a joint statement e-mailed by Lithuania’s investment agency in Vilnius. Important EU markets include the Czech Republic, Bulgaria and Hungary, she said.
Kinze, which says it’s the U.S.’s second-biggest producer of planting and seeding equipment, this autumn will start an assembly line at a site near Vilnius, the Lithuanian capital. By 2017, it will build up to full manufacturing with a staff of 250 beginning in 2017, according to the statement.
Lithuania is seeking to attract more investments in the field of mechanical engineering to develop a modern metalworking and equipment manufacturing cluster for eastern European markets, Prime Minister Algirdas Butkevicius said in the statement.
To contact the reporter on this story: Bryan Bradley in Vilnius at firstname.lastname@example.org
To contact the editor responsible for this story: Balazs Penz at email@example.com