DUBAI, UNITED ARAB EMIRATES--(Marketwired - Oct 9, 2015) - Global Equity International, Inc. (OTCQB: GEQU) and its fully-owned subsidiary Global Equity Partners Plc. ("GEP") a specialist consultancy firm with offices located in Dubai and London is pleased to announce that their client International FIM SRL, a reputable Italian automotive parts manufacturer based in Bergamo (Milan, Italy), has now signed a $7 million term sheet, subject to due diligence, with a US financial institution.
Peter Smith CEO of GEP said "Our mandate, as previous mentioned in an earlier press release, was to introduce International FIM SRL to capital funding of up to, but not limited to, 8,000,000 Euros (approximately 9 million USD) and subsequently assist the Company with their rapid expansion plan in the automotive parts manufacturing sector. We are truly ecstatic about having found them their first term sheet for an initial $7 million as this funding will be mutually beneficial to International FIM and, by defect, our Company (GEQU) too."
About International FIM SRL
International FIM has a 17,000 square meter (153,000 square feet) factory located in Bergamo (Milan, Italy) just 100 miles north of Maranello (Modena) where Ferrari has its headquarters and employs over 180 people that manufacture automotive parts such as engine covers, front grills, wheel caps, emblems for the front hood, decorative emblems, airbag emblems, door emblems, instrument panels and chrome parts for the interior and exterior of cars along with many more items.
The Company, previous called Lupini Targhe SPA, has been in operations since the 1960s and has an impressive client list that varies from luxury brand names such as Lamborghini, Ferrari, Maserati, Porsche and Bentley to more common brand names such as General Motors, Ford, Alfa Romeo, Jaguar, Land Rover, BMW, Volkswagen, Fiat (Abarth), Audi, Skoda and many more.
Geographically, the Company sells approximately 75% of its products to European car manufacturers, 20% to US markets and the rest, 5% to Asian and South American manufacturers.
About Global Equity International Inc.
Global Equity International Inc., through its wholly-owned subsidiary Global Equity Partners Plc., advises worldwide business leaders with their most critical decisions and opportunities pertaining to growth, capital needs, structure and the development of a global presence. With offices in Dubai and London, Global Equity has developed significant relationships in the US, UK, Central Europe, the Middle East and South East Asia to assist clients in realizing their full value and potential by bringing them to external capital and resources that place an emphasis on collaborative thinking. Furthermore, because Global Equity has offices in key financial centres of the world, they are able to introduce their clients to a unique opportunity of listing their shares on any one of the many stock exchanges worldwide. Global Equity Partners holds significant long-term equity positions in the companies that it represents.
Safe Harbour Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements.