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.

More on this topic

Panama gives green light to Caterpillar contract

May 2008

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.

Caterpillar Invests $25 million in Training Center

March 2009

The multinational construction company started building a training center for the entire continent in Panama.

According to statements from Martín Torrijos, President of Panama, in an article by AFP in mipunto.com, the new center will create about 500 jobs and represent an investment of $25 million.

FedEx Confirms Investment in Honudras

December 2011

With an investment of $25 million the multinational will build a logistics park in Valle de Amarateca, together with company Gutiérrez Logistics.

In an area spanning 70 hectares, the logistics center will feature complete services, container parking, security systems, fiber optics, banks and even a health center.

Panama as a Distribution Hub for Chinese Products

December 2016

The Asian country believes that the improvement in the country's logistical conditions as a result of the Canal expansion, represents an opportunity to set up a distribution platform geared towards Latin America.

"... 'Panama already serves as a bridge, or as a window for the transit of Chinese goods into Latin America, and I think with the logistics development in Panama this role will increase more and will be made more use of by Chinese enterprises'" said the permanent representative at the Office of Chinese-Panamanian Business Development, Wang Weihua, according to Laestrella.com.pa.

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