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.