China’s Rainbow Chemical says it will build a new plant and distribution center in Panama. Construction will start in September and be completed by April 2015.
The new state-of-the-art facility will serve as platform for the production of new specialty and innovative formulated products and its distribution to Latin American market.
“Demand from farmers for our products is increasing strongly in the whole region, especially in the Central American and South American markets. We identified a potential opportunity to expand our supply chain platform by choosing a strategic production location that can satisfy a faster response of our products to all markets in the region, helping to accelerate our innovation capabilities for this region simultaneously,” Director General for Central America and the Caribbean Michael Groos said.
The plant will have an international R&D center with a high-tech laboratory that will serve to study and develop innovative agricultural solutions for the Latin American region, according to Rainbow Chemical.
“We think that our R&D team needs to be closer to such important markets, to experience and understand the current problems farmers are facing so that we can truly achieve and accelerate market-driven innovation,” CEO Wicky Wang said.
This project will allow Rainbow to increase its supply chain capacity, have a more efficient distribution operation and enabling a faster response to all Latin American markets.
“We chose Panama because of its excellent logistic location, attractive investment and work environment. This is one of the many projects that Rainbow plans worldwide and that can add value to our partners”, Wang said.