SOURCE: FIMA Development, Inc.

March 14, 2008 13:46 ET

FIMA Acquires Construction and Design Interest

MURRIETA, CA--(Marketwire - March 14, 2008) - FIMA, Inc. (PINKSHEETS: FIMA), a real estate acquisition, development, and consulting firm specializing in the development of luxury condominiums in the resort destination areas of the Mexican Riviera and the tropical island of Cozumel, announced today that the Company has finalized an agreement to acquire 49% of the prestigious construction and architectural design firm of Garcia y Garcia in exchange for shares of FIMA, Inc. common stock. The two companies have worked together on a number of FIMA's previous development projects, and the amicable working relationship developed through this association served as the foundation for this most recent consolidation.

According to a FIMA spokesperson, "This move made perfect sense for everyone involved. We have had a sustained and mutually beneficial working relationship with Garcia y Garcia, and this acquisition is the natural evolution. Adding the construction and architectural design capabilities of Garcia y Garcia can only enhance our ability to compete in the marketplace. In addition, we now expect to be able to eliminate redundancies and inefficiencies through the consolidation of our business operations."

Based in Puebla, Mexico, the fourth-most populous metropolitan area of the country, Garcia y Garcia Concreto y Diseño Arquitectónico has assembled an impressive portfolio of design and construction projects in Mexico. The Company's projects have included single-family luxury homes, multi-unit residential complexes, substantial commercial buildings, and more. Over more than 20 years in operations, the company has developed a reputation for quality construction and innovative design.

About FIMA, Inc.:

FIMA, Inc. is a growing upper-scale residential and multi-family Real Estate Development Company that brings years of development experience to bear in the resort property industry. The company was formed with the goal of developing and managing investments in resort properties, multi-unit residences including upscale condos, and single-family homes. FIMA focuses on purchasing and developing real estate in and around some of the world's hottest destinations throughout Central America, including Cozumel, Playa del Carmen, Cancun, and the Yucatan Peninsula. Using time-tested real estate investment techniques, FIMA can continue to develop quality properties that will generate substantial income in these prime investment property markets. The combination of proven experience in real estate development and a thriving real estate market in the company's target areas make for an exciting time for FIMA and its clients. For more information, visit the Company website at: www.fimadevelopmentinc.com.

Safe Harbor Statement:

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

Contact Information

  • Contact:
    FIMA, Inc.
    24088 Semillon Lane
    Murrieta, CA 92562

    Phone: (800) 737-0186
    Fax: (951) 541-0210
    Email: Email Contact