SOURCE: FIMA, Inc.

FIMA, Inc.

February 24, 2009 08:30 ET

FIMA Subsidiary Breaks Ground on Latest 36-Home Project

HUNTINGTON BEACH, CA--(Marketwire - February 24, 2009) - FIMA, Inc. (PINKSHEETS: FIMA), an emerging diversified land development company, announced today that its subsidiary, Garcia y Garcia, has broken ground on its first project in conjunction with the federal "Tu Casa" program, designed to provide affordable housing in Mexico through the support of the federal government. This particular project calls for the construction of 36 homes in total, 25 in Tepexi de Rodriguez and 11 in Tepanco de López in the state of Puebla. A formal groundbreaking ceremony with members of the government is set to take place later this week.

According to FIMA CEO Roy Sahachaisere, "We're gratified to find that our operations continue to be viable in the midst of the current global recession, validating our confidence in our business model. In addition, we look forward to participating actively in additional projects like this in the future."

About FIMA, Inc.:

FIMA is engaged in a diverse range of land development and utilization activities, such as the acquisition of raw land and the design and construction of commercial and luxury real estate in the resort regions of Mexico, resource exploration and development in Central and South America, and the acquisition and development of mining properties and mining rights in Central and South America. FIMA operates several subsidiaries, including a prestigious architectural design and construction firm based in Puebla, Mexico, as well as an integrated resource exploration and mining company with holdings in the prolific gold- and silver-producing regions of Colombia. For more information, visit the Company website at: http://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. 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, 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.
    714-847-2460