Tampa company targets growth in Panama

The principals of a new Tampa-based company, PanEx Partners LLC, aim to market U.S. construction materials and services in Panama. Their targeted exports include environmental and security products, says partner Steve Toner, who owns the company with Carlos Lemos.

A number of big projects are under way in Panama, says Toner. “You have the expansion of the Panama Canal, and projects such as dams, bridges, and roads. They're putting in a $2 billion subway.”

In all, the U.S. government estimates that some $25 billion will be spent on construction projects in Panama over the next five years, says Toner.

The partners serve as brokers, rather than distributors, and do not warehouse the products. “Our business model is to get American products sold in Panama at a price point competitive” with construction products available from China, he says.

PanEx relies on Internet marketing for its exports. In its business model, companies purchase memberships, while PanEx hires sales staff to market the goods and services within the construction industry.

PanEx can handle customs and insurance details in the export process, according to Toner, as well as arrange trucking and storage in Panama. The company's office in Panama is located north of Panama City, near its international airport.