London & Regional Panama signs first contract for multinational to locate at Panama-Pacifico

Panama, July 15, 2008. – MEC Repairs, a company based in Panama that it is dedicated to the repair of ships in the interoceanic canal, became the first company to sign a contract with London & Regional Panama (L&RP), master developer of the area Panama-Pacifico.

London & Regional Panama and MEC signed today a contract for MEC to relocate to Panama Pacifico, which stipulates that MEC Repairs will receive the benefits Panama – Pacifico offers to the different companies that decide to establish at Panama’s new site of development.

“MEC is a company that works from Panama to relevant markets in the maritime sector, such as Germany, China, Japan and Cyprus, among others; Our facilities at Panama Pacifico will offer this company the necessary infrastructure and strategic placement to develop its operations,” stated Henry Kardonski, General Manager of L&RP after the signature of the contract.

MEC services more than 180 ships each month, offering mechanical, structural and steel repair services, as well as the provision of supplies and necessary ship parts.  

MEC will be moving its operations to Panama Pacifico sometime in the next 60 days. The company will occupy 11 buildings in more than two hectares of the 1,400 that comprise the entire project.   

As master developer, London & Regional Panama is committed to fulfilling the objectives of the special economic area by bringing direct foreign investment to Panama.  Companies locating here will provide quality job positions to Panamanians.  This new development complements the vision of the country by focusing on the continuous growth of the national economy.