Panama International Merchandise Mart S.A. Creates Latin America's First Merchandise Mart

Panama International Merchandise Mart S.A. Creates Latin America's First Merchandise Mart

March 08, 2007

    COLON CITY, Panama, March 8 /Xinhua-PRNewswire/ -- Yet
unseen in Latin America, the Panama International
Merchandise Mart (PIMM) is under development near the Colon
Free Zone as the region's first Wholesale Merchandise Mart.
The Mart offers a unique wholesale concept because most
Latin American and Caribbean buyers cannot enter the United
States due to visa restrictions. Thanks to the Panama
International Merchandise Mart, Latin American buyers will
be able to visit our mart and place orders, announced
company founder Reynald Henry Katz.

    (Photo: 
http://www.newscom.com/cgi-bin/prnh/20070226/MXM001 ) 

    Panama International Merchandise Mart S.A. will be
built on 92 acres. The project's first phase will cost $50
million, and the entire project will reach $1 billion by
2015.

    The PIMM will complement the Colon Free Zone logistic
operation because merchandise sold there will be shipped
either from the Colon Free Zone or from manufacturer's
plants to their final destination. Trade at the Colon Free
Zone reached $14.8 billion in 2006, a 17.7 % increase
compared to the prior year.  With plenty of warehouse space
available but with show room space availability being at its
maximum capacity and some 2,500 companies waiting to operate
at the Colon Free Zone, PIMM is poised to fill the gap and
become the best alternative for Latin American buyers. PIMM
is a project of national economic interest, said Katz. 

    It is estimated that each showroom's yearly trade will
reach $2 million, and with 672 showrooms, the Mart should
generate $1.3 billion by 2009 and 
$6 billion by 2010.

    The concept is simple: Offer manufacturers from around
the world the ability to buy and operate their own
permanent showroom at the PIMM near the Colon Free Zone, a
wholesale mall environment that will allow them to reach
450 million Latin American and Caribbean consumers.

    With a stable government, the U.S. dollar as legal
tender, inflation at just 2.3 %, and no tax on profit
because of its offshore status, Panama is today the best
place to invest in Latin America. It is considered the hub
of Latin America and the Caribbean, said Katz.

    Showroom sales will range from between $1,600.00 and
$2,000.00 per square meter; construction costs are
approximately $500.00 or less. Profitability is tremendous
and investor returns should be generous, said Katz.

    When complete, the Mart will feature 3,000 showrooms, a
convention center, an exposition center, hotels, office
parks, housing developments, and banks.  An estimated
25,000 people are expected to visit the Mart daily through
2010, and there is still room for expansion on the 92 acres
of land -- The sky is the limit, said Katz.
(WWW.PANAMAMERCHANDISEMART.COM)

    PIMM expects its stock to be trading soon on the Panama
Stock Exchange. Actually a private placement is taking
place, and, at its initial public offering, the stock
should be traded at above $2.00 per share. Twenty-five
percent of the company will be sold on a fully diluted
basis of $200 million pre-money valuation. 


    For more information, please contact: 

     Reynald Henry Katz
     Panama International Merchandise Mart
     Tel:   [phone]
     Email: [e-mail]