March 6 - Manitowoc Cranes has signed a distribution and service contract with Buenos Aires-based construction equipment dealer Covema SACIF.

"This alliance will enhance our presence in Argentina with a market-leading products that serve customers in the energy sector and many other industry sectors," said Manitowoc's vice president of sales for South America (excluding Brazil), Cristian Galaz.

Argentina's oil and gas sector is expected to rapidly expand in the coming years and is a market where Manitowoc plans to offers a number of products suitable for a variety of operations.

Currently in Argentina there are many sectors of the energy industry that are still developing, both in the implementation of networks and in the construction of plants, as well as growing demand for renewable energy in the form of wind farms, according to Galaz.

Due to the proximity of Manitowoc's factory in Passo Fundo, Brazil, units can be delivered to Argentina in about three days, said the manufacturer.

In addition, said Manitowoc, customers in the country can take advantage of a 14 percent tax exemption for units below the 60-tonne capacity range, thanks to the Mercosur trade agreement.