business

3M builds center in Howard

The technology company has already invested $15 million and hopes to create 150 jobs.

Víctor Arosemena/LA PRENSA

big business: 3M plans to open the new Howard site in September.1035240

The U.S.-based multinational company 3M has chosen Panama as the headquarters for its new distribution and manufacturing center.

The company will be based in Howard, where it has already made an initial investment of $15 million. The center will be dedicated to developing and testing new industrial products and, eventually manufacturing.

To make this possible, 3M Panama has signed an agreement with London & Regional Panamá, the company responsible for developing the Howard Master Plan.

"We begin operating in September and we hope to generate around 150 jobs," said Gustavo Angulo, general manager for 3M in Central America.

The company will start training staff during the first phase of the project, while installing machinery and basic infrastructure and developing logistics plans.

"The idea is to give added value to the products in Panama. We will bring advanced technology and at the same time train Panamanians," explained Angulo. "Our intention is to have the entire operation consolidated in one place. This would be in addition to what we already have in the country, so we can serve all of the other regions, including Asia and Europe, from Panama."

Henry Kardonski, manager of London & Regional Panamá, said that the Panamá Pacífico project, which is being developed in Howard, is an excellent means for companies such as 3M to establish and consolidate their operations. This, along with the logistics platform offered by Panama, offers them a competitive advantage.

3M, which owns the Scotch, Post-it and Nexcare brands, manufactures industrial and health products. The company operates in over 200 countries, and employs more than 75,000 people. 3M reported record sales of $24.5 billion in 2007.