Business
OTC:ILUS, ILUS International (Ilustrato Pictures International Inc), Signs Letters of Intent for Two Strategic US Acquisitions
OTC:ILUS, ILUS International (Ilustrato Pictures International Inc), Signs Letters of Intent for Two Strategic US Acquisitions.
About this update from Ilustrato Pictures International Inc.
[{"type":"text","content":"\n NEW YORK, July 14, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS): ILUS is a M&A company focussed on acquiring and developing technology-based companies globally. The company has already completed 3 acquisitions in 2021 and recently announced its US acquisition and growth strategy. This strategy includes the acquisition of strategically aligned US companies, the addition of US based manufacturing and distribution capability and the recruitment of key US based team members for sales, marketing and manufacturing. ILUS has signed Letters of Intent for the acquisition of a Texas based specialist oil and gas fire system and pump manufacturer and a Tennessee based truck bed manufacturer, specialising in firefighting brush trucks. Founded over 30 years ago in Texas with a long history and strong reputation in the industry, having supplied companies such as Shell and Exxon, the specialist fire system and pump manufacturer houses complete design, manufacturing and fabrication facilities within its large facility. The company achieved revenue of $8 million in 2020 and currently has an existing order book of $2 million. With ILUS’ focus on technology which will enhance the Emergency Services market and increase the delivery of vital life safety solutions, this company will be a significantly strategic acquisition for ILUS. Some key considerations for ILUS include the company’s end-to-end manufacturing capability, expert skills and experience, oil and gas customer base with links to the oil and gas market in the Middle East where ILUS is also operating, the ability to manufacture and assemble additional ILUS products and its proximity to the renowned Texas Fire Training Academy (TEEX) for the testing and demonstration of ILUS products. The Tennessee based acquisition owns its manufacturing facility, has been in business for over 18 years and is a reputable manufacturer and supplier of truck beds with the most notable application for its technology being brush trucks for wildfire and traditional firefighting. The company’s products have already proven popular across the US, with many customers sending their vehicles to Tennessee to be fitted out by the company. 2020 revenue for the company was $2 million with exceptional potential to increase this through the implementation of a focus...