Panama. The company announced the expansion of its temperature-controlled facility located in Panama City. This planned expansion will add more than 8,300 pallet positions to the facility, bringing its total capacity to 28,300 pallets.
This is Emergent Cold LatAm's second investment in Panama. In September 2021, the company acquired Galores Cold Storage, the largest third-party cold storage business in Central America and the Caribbean. The company offers a wide range of temperature-controlled services and solutions for the food industry, including transportation, from haulage to distribution. The company serves important multinationals with recognized brands and specializes in the food service and retail industry.
"Panama is an important market for our regional warehousing and logistics network," said David Palfenier, president of Emergent Cold LatAm. "Our legacy company, Galores, has always proven its leadership in service and solutions for the food industry. This investment to expand the company's capacity and service offerings will benefit our customers and strengthen the food supply chain throughout Central America."
Panama is a recognized logistics hub for the Americas due to its easy access to the Atlantic and Pacific oceans, extensive air and sea connectivity through the Panama Canal, essential ports and special economic zones. In addition, Panama enjoys one of the highest GDP growth rates in Latin America in the last ten years.
