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.
Panama's comptroller-general ratified a contract between Caterpillar Latin America, the Finance Ministry and the Agency for Panama-Pacific Special Economic Area.
The multinational construction company started building a training center for the entire continent in Panama.
With an investment of $25 million the multinational will build a logistics park in Valle de Amarateca, together with company Gutiérrez Logistics.
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.
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