CATERPILLAR Inc, the world’s largest maker of heavy equipment, is ready to move swiftly into the Cuban market once the US trade embargo is lifted, chief executive Doug Oberhelman said on Wednesday after meeting Cuban ministers in 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 (CAT.N), based in Peoria, Illinois, is one of several US companies looking at ways to gain an early foothold in the communist-ruled island, which had been largely off bounds to US business for more than five decades.
Mr Oberhelman said he had been “warmly received” over the past two days by various ministers on his first trip to Cuba.
“We have talked about a number of projects. I think the most interesting one in the near term would be the Mariel harbour … making an efficient modern harbour that competes with others around the world,” he told reporters.
Caterpillar has already named an official dealer for Cuba, the privately held Puerto Rico company Rimco.
President Barack Obama and Cuban President Raul Castro agreed in December 2014 to end Cold War-era animosity and restore diplomatic relations.
