Business
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Agrees and Signs for the Acquisition of Texas-based Precision Powered Products Incorporated
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Agrees and Signs for the Acquisition of Texas-based Precision Powered Products Incorporated.
About this update from Ilustrato Pictures International Inc.
[{"type":"text","content":"\n NEW YORK, NY, Oct. 21, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and developing public safety technology-based companies across the globe. The company has been in the process of completing multiple acquisitions in 2021, with the most recent being Bull Head Products in Tennessee. ILUS has now agreed and signed the Heads of Terms for its third US acquisition, Precision Powered Products Inc, which is an established specialist fire pump system manufacturing company, primarily serving the Oil and Gas sector, generating annual revenues in the region of $8 million.  Precision Powered Products Inc. was founded in 1984 and operates out of its 16,000 square foot facility in Houston, Texas. The company’s impressive Oil and Gas customer base includes the likes of BP, Shell, Exxon, and Anadarko. In addition to its 36 years of operations, the profitable business employs 15 personnel with extensive industry experience; it holds multiple engineering, welding, fabrication, installation, and maintenance certifications, and owns a considerable list of machinery and equipment. In addition to growing the existing business and leveraging the business’s rich database of customers and contacts, ILUS plans to make Precision Powered Products the US manufacturing hub for all of FireBug’s existing and future firefighting pumps and pump related equipment. The FireBug equipment manufactured by Precision Powered Products, which will include a new range of wildland firefighting equipment, will be distributed countrywide by ILUS’ Georgian distributor, which is already a leading distributor of firefighting equipment in the US. The pumps and equipment will also be distributed by future firefighting equipment distributors which ILUS plans to acquire. ILUS’ Bull Head Products will also order all of its firefighting vehicle pumps from Precision Powered Products, with ILUS expecting that a very significant portion of its firefighting equipment sales in the US will form part of complete firefighting vehicle solutions. Therefore, Bull Head Products and ILUS’ US distributor will both sell ILUS’ firefighting vehicles and Precision Powered Products will manufacture the pumps and some of the equipment to be installed o...