MetoKote Investing in German Manufacturing Facility
MetoKote Corporation, a provider of protective coating applications based in the United States, has chosen Germany as the site of its new manufacturing plant. With a EUR 6.5 million investment, the company broke ground last week on its new facility in the Southern German city of Mannheim, Baden-Wurttemberg.
The new investment will also serve as a pilot project focused on reaching further customers in continental Europe. It is the company\'s first office in Germany. The 11,500 square meter site will include a production facility, warehouse, and administration building. The company expects to begin production as soon as July 2010 and plans to eventually employ 50 workers at the plant. The rapid turnaround time was made possible by Germany\'s efficient investment framework.
DeWayne Pinkstaff, President and CEO of MetoKote, came from company headquarters in Lima, Ohio to attend the groundbreaking ceremony in Mannheim on Wednesday. Pinkstaff was enthusiastic about the company\'s new presence in Germany: "We are very much looking forward to producing in Germany. The site is optimal for us, as it is located in the Rhine-Neckar metropolitan area, one of the most dynamic areas in Europe. The region provides us with an excellent opportunity to reach new customers. Germany Trade & Invest and the regional development agency Metropolregion Rhein-Neckar GmbH were instrumental in helping our company find a suitable location and assisting us through the entire investment process."
One major factor in MetoKote\'s decision to invest in Mannheim was its close proximity to customer and agricultural equipment manufacturer John Deere. The agricultural giant has had its tractor factory and European Headquarters in Mannheim since 1956. John Deere Werke Mannheim factory manager Dr.Volker Knickel also attended the groundbreaking ceremony.
MetoKote supplies coating applications, such as electrocoating (e-coat), powder coating, and liquid paint, for a variety of industries, including agriculture, appliance, automotive, construction equipment, industrial equipment, recreational, and truck and bus.
The company was assisted throughout the investment process by Germany Trade & Invest along with Metropolregion Rhein-Neckar GmbH (http://www.standorte-rhein-neckar.de).
Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.