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FIMA Subsidiary Signs Contract to Build 36 New Homes in Puebla, Mexico

Wed. February 04, 2009; Posted: 08:31 AM
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HUNTINGTON BEACH, CA, Feb 04, 2009 (MARKET WIRE via COMTEX) -- FIMA | Quote | Chart | News | PowerRating -- Garcia y Garcia, a subsidiary of FIMA, Inc. (PINKSHEETS: FIMA), an emerging diversified land development company, announced today that the Company has signed an agreement to build 36 homes in the state of Puebla, Mexico in participation with "Tu Casa," a federal program to provide affordable housing in Mexico through the support of the federal government. The agreement was entered into with Sedeso Puebla ("Secretaria de Desarollo Social del Estado de Puebla"), the office of social development for the State of Puebla, and calls for the construction of 36 homes in total, 25 in Tepexi de Rodriguez and 11 in Tepanco de Lopez in the state of Puebla.

According to Israel Garcia, managing partner of Garcia y Garcia, "This is exciting news for us and we are extremely confident that this project represents just the first of many with the State of Puebla. Last year, we committed to the process of becoming registered with the state to become an official provider of services, granting us the right to bid on projects like this, and we are now seeing the positive results of that commitment. In addition, we are very pleased to be able to take part in the 'Tu Casa' program and help provide affordable housing in our country. We are based in Puebla, so it is particularly gratifying to be able to participate in a project that allows us to improve our community, and we look forward to more opportunities 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. 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: FIMA, Inc. 714-847-2460

SOURCE: FIMA, Inc.

For full details for FIMA click here.

    


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