Global Equity International Inc (OTCBB:GEQU) and its subsidiary firm Global Equity Partners Plc., a specialist consultancy unit with offices located in London and Dubai, reported that it has finalized a deal with International FIM SRL, a renowned Italian automotive components manufacturer based in Milan, Italy.
It boasts a 17,000 square meter factory based in Bergamo just 100 miles north of Modena, and employs more than 180 people that develops automotive components such as wheel caps, emblems, engine covers, front grills for the front hood, airbag emblems, door emblems, decorative emblems, chrome parts and instrument panels for the exterior and interior of cars, along with several other parts.
Global Equity reported the entity, formerly known as Lupini Targhe SPA, has been in industry since the 1960s and boasts an impressive customer list of both luxury brand names such as Ferrari, Lamborghini, Bentley, Maserati etc and more common brand names like Ford, Jaguar, BMW, Volkswagen, Land Rover, Fiat, Audi, and list goes on. Geographically, the firm offers nearly 75% of its products to car manufacturers in Europe, 20% to US customers, and 5% to South American and Asian manufacturers.
Global Equity stated that their objective is to introduce the associate firm to capital funding of up to nearly $9 million and subsequently help in the rapid expansion plan in the respective sector. For the purpose, the company has agreed with International FIM SRL on a cash and equity success fee.
The expert view
Peter Smith, the CEO of Global Equity, stated that they believe that a quality customer like International FIM SRL with an impressive customer base and an established business history will bring value to the company´s profile. The management is confident that they can introduce International FIM to the appropriate capital funding that they need within the next ninety days through company’s extensive network of hedge funds, financial institutions, Sovereign wealth family offices and wealth management offices in Europe and the Middle East.
Global Equity International Inc (OTCBB:GEQU) enjoyed a major rally in the last trading session of the previous week as it ended the last day with a huge gain of 37.70%. The rally in price was well supported by a surge in volume too, as 15 million shares changed hands against the daily average of 6.7 million only. the stock has been building a base for a long time now and the current month has seen a major breakout from the base, which can extend to much higher levels in all probabilities. Investors may use any dip to accumulate the stock.