Business
ILUS Completes Another Fire Safety Acquisition
ILUS Completes Another Fire Safety Acquisition.
About this update from Ilustrato Pictures International Inc.
[{"type":"text","content":"\n NEW YORK, NY, Dec. 13, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc. (OTC: ILUS) (Ilustrato Pictures International Inc.) is a Mergers and Acquisitions company focused on acquiring and growing public safety and industrial companies across the globe. The company has signed a Share Purchase Agreement to acquire 51% control of AL Shola Al Modea Safety and Security LLC (ASSS), an established and profitable fire safety company registered in the United Arab Emirates.  In a strategic move by ILUS, the company has acquired the majority stake of ASSS to ramp up its Middle Eastern fire safety expansion plans. This involves ASSS working closely alongside BCD Fire, which was wholly acquired by ILUS in April 2021, to dominate the United Arab Emirates (UAE) fire safety sector through the leveraging of licensing, certifications, manpower, experience, and relationships. The acquisition will also speed up ILUS’ focused expansion into the lucrative Saudi Arabian market as well as the rest of the Gulf region.  Capitalizing on the experience and contacts of its then parent company, Al Shola Gas, which was founded in 1990, ASSS was established as a separate entity in 2008. As a well renowned primary contractor for many of the region’s most prestigious property developments, the company specializes in the design, installation, commissioning, and maintenance of fire alarm, fire protection and security systems. ASSS holds the highest level of licensing and certifications to operate as the main contractor for commercial, residential, and industrial facilities across the United Arab Emirates.  With the UAE’s accelerating economic growth in 2022 and even higher growth expected in 2023, the property market in the region has been on an upward trajectory, resulting in high demand for fire safety and security contractors and short supply of those with the required licensing and certifications. ASSS has a full order book for 2023 and is currently expanding its resources to take on additional contracts. As a main contractor, the company will correspond closely with BCD Fire, who operates primarily as a sub-contractor in the region. Together, the companies can secure larger contracts and reduce project completion timeframes. ASSS will focus on installation contracts and larger pro...