Business
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc) Confirms Middle Eastern Market Plans in Response to Increased Demand and Opening of Saudi Arabian Office, in Addition to Recently Opened Dubai Office
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc) Confirms Middle Eastern Market Plans in Response to Increased Demand and Opening of Saudi Arabian Office, in Addition to Recently Opened Dubai Office.
About this update from Ilustrato Pictures International Inc.
[{"type":"text","content":"\n NEW YORK, NY, March 09, 2022 (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. Due to recent events and the corresponding increased oil price, increased demand on defense and associated rescue vehicles, as well as several multi-billion-dollar construction projects in the Middle Eastern region, solutions from within the ILUS businesses are in high demand.   In addition to its existing factory and offices in Dubai, United Arab Emirates, ILUS recently opened an office in Dubai which can accommodate up to 75 staff members. The office, which is home to members of the ILUS finance, administration, sales, and marketing teams, is located on the 11th floor of the Marina Plaza building in Dubai. This week, ILUS is signing the lease for its new US office in Boca Raton, Florida which will accommodate up to 20 members of its team, primarily in management roles. Furthermore, in response to the increased demand in the Middle East and specific requirements which require local facilities to fulfil contracts, ILUS is exploring several options for offices and facilities in Riyadh, Saudi Arabia.   With the rising oil price which is expected to climb to over $140 per barrel, ILUS is already fielding new requirements from oil and gas customers in the Middle East. Historically, ILUS acquisitions, The Vehicle Converters (TVC), FireBug, and BCD Fire, have significantly increased their revenue during periods of increased oil prices and ILUS is already seeing a repeat of this trend. Having been involved in several companies in the Middle East, ILUS management has previously experienced the increased capital expenditure in the region that takes place when the oil price increases. The increased oil price leads to increased capital expenditure in the sector, not only in refinery and general infrastructure upgrades but also in renewed maintenance of firefighting vehicles and equipment. The Middle Eastern markets will inevitably increase production to fill the void left by sanctions on the Russian market. This puts ILUS in an even stronger position as the company has already seen an increased demand for TVC and FireBug vehicles as military and international organizations h...