- Title: Caterpillar ready to move into Cuban market once embargo lifted -CEO
- Date: 12th May 2016
- Summary: HAVANA, CUBA (MAY 11, 2016) (REUTERS) VARIOUS OF CATERPILLAR CEO, DOUG OBERHELMAN, ARRIVING AT WRITER ERNEST HEMINGWAY'S HOME WITH CUBAN DELEGATION OBERHELMAN GREETING VICE PRESIDENT OF INTERNATIONAL EXTERNAL AFFAIRS AT AT&T, ERIC LOEB OBERHELMAN AND DELEGATION TOURING HEMINGWAY'S HOME PHOTO OF HEMINGWAY ON COVER OF MAGAZINE (SOUNDBITE) (English) CATERPILLAR CEO, DOUG OBERHELMAN, SAYING: "We have been warmly received for the last two days actually. And we've met with various ministers in most of the departments that we would interface with. They are familiar with our company for many years, we have many machines here that of course were here long, long ago and I think being the position that we are in the world with construction, with mining, with finance, with railroads and so on it's a very good dialogue that we're having with them." OBERHELMAN AND DELEGATION IN HEMINGWAY'S STUDY HEMINGWAY'S TYPEWRITER MORE OF VISITORS IN ROOM IN HEMINGWAY'S HOME (SOUNDBITE) (English) CATERPILLAR CEO, DOUG OBERHELMAN, SAYING: "We have talked about a number of projects and there's a long list on infrastructure to be built in their 2030 plan. I think the most interesting one near term would be the Mariel harbour and we're seeing that start right now actually." ROOM IN HEMINGWAY'S HOME BOOKS IN HOME (SOUNDBITE) (English) CATERPILLAR CEO, DOUG OBERHELMAN, SAYING: "We would, in our case, move very quickly. We're used to dealing in emerging markets, we're used to dealing in new markets, we have appointed a distributorship here that is establishing a foothold and we would be very quick to move." OBERHELMAN AND LOEB TALKING LOEB POSING FOR PHOTO
- Embargoed: 27th May 2016 15:31
- Keywords: Cuba Caterpillar embargo trade Hemingway museum
- Location: HAVANA, CUBA
- City: HAVANA, CUBA
- Country: Cuba
- Topics: Government/Politics
- Reuters ID: LVA0014HI6R0J
- Aspect Ratio: 16:9
- Story Text: Caterpillar Inc, the world's largest maker of heavy equipment, is ready to move swiftly into the Cuban market once the U.S. trade embargo is lifted, Chief executive Doug Oberhelman has said on a visit to Havana.
The detente between the United States and Cuba has raised hopes that full commercial ties will soon be restored between the former Cold War foes.
Caterpillar is one of many U.S. firms looking at ways to gain an early foothold in the Communist-ruled island, that had been largely off bounds to U.S. business for more than five decades.
On a tour of the Cuban home of U.S. writer Ernest Hemingway with AT&T's Vice President of International External Affairs Eric Loeb, Oberhelman said he had been "warmly received" over the past two days by various ministers.
"We have been warmly received for the last two days actually. And we've met with various ministers in most of the departments that we would interface with. They are familiar with our company for many years, we have many machines here that of course were here long, long ago and I think being the position that we are in the world with construction, with mining, with finance, with railroads and so on it's a vey good dialogue that we're having with them," he told reporters on the sidelines of an event celebrating a donation by Caterpillar to the foundation that preserves the heritage of U.S. writer Ernest Hemingway in Cuba.
Cuba is staking much of its economic future on the Mariel port, west of Havana, seen as a potential distribution center for the Caribbean and Central and South America.
"We have talked about a number of projects and there's a long list on infrastructure to be built in their 2030 plan. I think the most interesting one near term would be the Mariel harbour and we're seeing that start right now actually," he added.
Once lifted, Caterpillar could move quickly to sell its products in Cuba as it was used to dealing in emerging markets.
"We would, in our case, move very quickly. We're used to dealing in emerging markets, we're used to dealing in new markets, we have appointed a distributorship here that is establishing a foothold and we would be very quick to move," said Oberhelman.
Caterpillar has already named an official dealer for Cuba - the privately-held Puerto Rico company Rimco.
Rimco representative Carolina McConnie said the dealer was in talks with U.S. authorities about getting a license to sell certain products in Cuba that would enable it to get around the U.S. trade embargo on the country.
U.S. President Barack Obama and Cuban President Raul Castro agreed last December to end Cold War-era animosity and restore diplomatic relations, but the embargo remains in place as only the Republican-controlled U.S. Congress can lift it. - Copyright Holder: REUTERS
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