Business
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Completes the Acquisition of Tennessee-based Bull Head Products Incorporated
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Completes the Acquisition of Tennessee-based Bull Head Products Incorporated.
About this update from Ilustrato Pictures International Inc.
[{"type":"text","content":"\n NEW YORK, NY, Dec. 27, 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. Leading up to the completion of this acquisition, ILUS had previously completed three acquisitions in the first two quarters of 2021, and since then the company has agreed and signed pre-contract agreements for a further four acquisitions which it is in the process of completing. Of the four agreed acquisitions, ILUS has now completed the acquisition of Bull Head Products Inc and will take over the ownership and operation of the business with immediate effect.  Bull Head Products is a specialist aluminium truck bed manufacturer and vehicle converter with customers across the United States in multiple sectors, including wildland firefighting and rapid response fire and rescue. ILUS has agreed the acquisition of Bull Head Products Inc for an undisclosed cash amount which is linked to performance clauses and a small amount of restricted shares. The company has acquired Bull Head Products primarily due to its strategic importance for the manufacturing of ILUS rapid response vehicles, vehicle conversions and commercial electric utility vehicle assembly. In terms of revenue and corresponding cost, the acquisition is the smallest of ILUS’ current round of US acquisitions, generating just over $1 million dollars of profitable annual revenue. As with all current and upcoming ILUS acquisitions, Bull Head Products holds extraordinary growth potential. Since its involvement with ILUS, the company has already seen sales orders increase and now has several significant vehicle contracts in its sales pipeline, including one deal of over $1.2 million. For this opportunity, Bull Head Products is currently manufacturing the first vehicle for the customer as a Proof of Concept to gain final approval for the larger manufacturing contract.  ILUS will be using Bull Head Products to manufacture FireBug’s rapid response firefighting and rescue vehicles and completing vehicle conversions for North American vehicle contracts. Bull Head Products will also assemble ILUS’ E-Raptor range of commercial electric utility vehicles which are to be manufactured in South-Eastern Europe at the m...