Finning to invest US$350 million in Chile this year
Canadian company Finning International Inc. (TSX:FTT), Caterpillar’s equipment distributor in Chile, announced it will invest over US$350 millions in the South American country the year.
Finning South America CEO, Juan Carlos Villegas, said the company is focused now on building a plant south of the capital, Santiago, which will require a total investment of US$ 22 million.
With the completion of the plant, expected by April this year, Finning will have achieved a major shift from importing equipment to producing it locally, under Caterpillar’s supervision, said the executive.
Finning South America is also investing in investing about US$12 million in a training center in the northern part of Chile, which will allow training up to 650 workers per shift.