February 23 (SeeNews) - German car parts maker Kayser Automotive Systems GmbH will lease a plant in Bulgaria's northern city of Pleven this year, property investor Bulgarian Property Developments (BPD) said.
Under an initial ten-year agreement, Kayser will lease facilities at the logistics park BPD Pleven from the property investor, where it will manufacture components such as pipe systems, valves and tanks, BPD said in a statement on Wednesday.
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The company could not disclose the financial details of the deal.
The manufacturing plant spans 5,269 sq m and can be expanded by another 5,000 sq m. It comprises a production hall, warehouse and administrative area with offices and facilities for technical maintenance.
Einbeck-headquartered Kayser Automotive Systems operates 12 production sites and sales offices across the U.S., Mexico, Germany, Poland, Spain, Hungary, China and India, according to its website.
BPD, founded in 2004 and part of Bahamas-headquartered Tavistock Group, owns and manages properties with a total leasable area of over 60,000 sq m and development projects totalling 400,000 sq m, its website shows.