COLON, Panama, April 12 /CNW/ -- The Panama International Merchandise
Mart S.A. (PIMM), currently under development near Panama's Free Zone as the
region's first wholesale merchandise mart, announced today a number of
(Photo: http://www.newscom.com/cgi-bin/prnh/20070226/MXM001 )
PIMM S.A. has entered into serious discussions with the World Bank for a
guaranteed $50 million bank loan.
A strategic alliance is under negotiation with the Dallas Merchandise
Mart, which already operates the Shanghai Merchandise Mart.
PIMM S.A. has also entered into serious discussions with an important New
York investment banking group that has shown interest in purchasing 24 million
shares at $2.00 per share, equaling $48 million.
In the past 45 days, PIMM S.A. has received over 87 applications for show
room pre-construction sale at $80,000 and $160,000; total committed sales
stand at $10 million. Show room buyers are about 90% Chinese factories and 10%
Indian factories, both wishing to expand into the Latin American market.
PIMM S.A., with 672 showrooms in its first phase, 1,400 in its second
phase and 2,800 in its third phase, is where wholesalers are in direct contact
with the manufacturers, therefore avoiding unnecessary intermediaries. Set in
a 46 hectare development, Panama International Merchandise Mart will feature,
among other attractions, a 10-hectare wholesale business district, a
merchandise mart and accommodation for more than 25,000 visitors, spanning
about 150,000 square meters of housing, five basic commercial centers, 13
service areas, one office park area and one business center. It will be home
to nearly 4,000 qualified foreign manufacturers and enterprises and tens of
thousands of quality products. The five wholesale centers will each cover
about 500,000 square meters and feature a wide range of products, including
textiles and garments, food and groceries, healthcare and pharmaceuticals,
household electric appliances, communications equipment, mechanical equipment,
building materials and interior decoration, hardware and electrical products,
and petrochemical products. Construction will begin in late 2007, with strong
support from the Panamanian government.
Contact. Mr. Reynald Henry Katz, President and Founder
For further information:
For further information: Mr. Reynald Henry Katz, President and Founder,
Panama International Merchandise Mart S.A., R.KATZ@PIMM.COM.PA Web Site: