Caterpillar to install regional HQ in Panama

Caterpillar has acquired 100 hectares of land on Panama's Pacific coast at a cost of 6.7 million dollars to set up a regional headquarters for Latin America.

Tuesday, May 6, 2008

Representatives of Caterpillar and the Panamanian government signed the sales contract Tuesday for land in the Panama-Pacific Special Economic Area. At the signing ceremony, Panamanian President Martín Torrijos said that Caterpillar's choice of Panama is recognition of the value of its geographic position.

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Panama gives green light to Caterpillar contract

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Panama's comptroller-general ratified a contract between Caterpillar Latin America, the Finance Ministry and the Agency for Panama-Pacific Special Economic Area.

Under the contract, US-based Caterpillar acquired two building lots in Howard for a total of US$6.75 million. Caterpillar plans to build a laboratory on one of the lots for lubricants for machinery made by its subsidiaries, as well as a training center and a showroom for its construction equipment.

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