Business
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc) Provides an Update on Its Subsidiary Plans
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc) Provides an Update on Its Subsidiary Plans.
About this update from Ilustrato Pictures International Inc.
[{"type":"text","content":"\n NEW YORK, NY, June 14, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS), ILUS is a Mergers and Acquisitions company focused on acquiring and developing technology-based companies across the globe. The company wishes to provide an update on the progress, plans, and focus regarding its subsidiaries, including its plans to add a significant battery manufacturing acquisition to its Renewables subsidiary.  ILUS’ emergency response focused subsidiary, Emergency Response Technologies (ERT), has taken significant steps towards achieving its short-term milestones and therefore appointed Dan Peters as its Chief Executive Officer to assist with the implementation of its growth plans. ILUS has simultaneously made significant progress with its Renewables subsidiary, which is already home to Replay Solutions and E-Raptor. Replay Solutions is an urban mining company which is working on the recovery of rare metals from discarded electronic equipment and electrical waste using innovative mechanical and chemical treatments. E-Raptor is a range of commercial electric utility vehicles (EVs) which are used by the industrial, hospitality, agricultural and public safety sectors. Both companies are currently setting up their new operations in Serbia.  In a move that will add to its Renewables subsidiary, ILUS is now in the final stages of agreeing the acquisition of a battery manufacturing company which is currently generating $20 million in annual revenue. The company primarily designs and manufactures several battery types and is rolling out its own lithium battery product. Several byproducts of Replay Solution’s mining process such as plastics, lithium, and various minerals can be used in the potential acquisition’s manufacturing plant. The availability of required raw materials and minerals from Replay Solutions will substantially reduce manufacturing costs for the company. The battery manufacturer will also develop and manufacture batteries for the E-Raptor range of EVs and work on the development of specialized batteries for Unmanned Aerial Vehicles (Drones). Following several positive meetings with the potential acquisition, further meetings are taking place this week. ILUS is preparing to agree terms and announce the deal within weeks.  With plans underway for ERT to u...