Panama. Some US$20 million will be invested by the multinational company PPG Industries to build a new factory in the Central American country under the Glidden brand, which is scheduled to be inaugurated in 2018.
"The industrial expansion in Panama of a multinational leader in paints and coatings worldwide such as PPG reaffirms the confidence and commitment that exists in the country and in the construction sector," said the General Director of PPG Latam, Diego Foresi.
According to Foresi, the project is currently in the process of engineering analysis and in the search for the ideal location for the location of the plant: "It will be an important plant since its objective will be to supply all of Central America, the Caribbean and South America," added the Director of PPG Latin America.
The reasons for investing in a plant in Panama are mainly due to the logistics that are generated thanks to the strategic position that the country has for the company and the positioning that Glidden has in the Panamanian market. "PPG wants to expand the brand and enhance Glidden's arrival throughout the region, using Panama as a center of gravity for this expansion. Being located in Panama allows us a very interesting articulation of everything that has to do with logistics, storage and movement both inside and outside the country," said Foresi.
With this opening PPG plans to open a minimum of 150 jobs in the country. "Hiring will increase as manufacturing grows," Foresi said. Thus, PPG will add a total of 500 employees nationwide to its Panamanian operation.
