VILNIUS – Lithuanian vehicle trader Auto Pirkliai is building an assembly plant for Belarusian Belarus tractors in Lithuania's Sirvintos District for 1.7 million euros after signing a licensing agreement to use the brand, the Verslo Zinios business daily writes.
Auto Pirkliai head Vitauras Zilenas says a tractor assembly, sale and maintenance center will be built and 36- and 63-horse power tractors will be assembled there.
Amid ongoing legal proceedings over the use of the Belarus brand, Auto Pirkliai have signed a licensing agreement on the use of the brands and are paying a fee for sold products.
The Verslo Zinio daily wrote earlier that US company Suraleb arrested the Belarusian tractor producer's assets in Lithuania in September as part of effort to recover debt from the Belarusian company
During the execution of the arbitration ruling, Minsk Tractor Works and its branch in Lithuania were demanded movable and immovable assets worth 3.3 million euros as well as data on property rights and monetary assets.
Together with other assets, the MTZ and Belarus brands that belong to Minsk Tractor Works were also seized, as well as the special labeling system used to mark all spare parts for Belarus tractors.