NEW YORK, NY -- October 21, 2021 -- InvestorsHub NewsWire --
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 on the vehicles. ILUS’ distributor
will then also be able to supply any additional firefighting
equipment required for the complete vehicles.
Precision Powered Products currently manufactures custom
designed and engineered firewater pump systems, engineered skid
units, and mounted modular equipment. The company also provides OEM
manufacturing, assembly, and servicing for major pump
manufacturers. It services and repairs pump systems both onsite at
oil wells and offshore rigs, and at its Houston facility. ILUS will
be moving some key members of its existing team of engineers
currently located in Dubai to Houston where they will work with
Precision Powered Product’s team of welders, fabricators, and
assembly technicians to manufacture FireBug’s existing pumps and
design additional disruptive technology. Precision Powered Products
has additional manufacturing space available as well as a large
outdoor product testing area which ILUS can utilize for FireBug’s
existing products.
ILUS has multiple short-term objectives for the increased growth
of Precision Powered Products. These include investing in the
maintenance division of the company, which is a major source of
additional revenue, employing additional sales resources to target
global business which includes existing ILUS customers and contacts
in the Middle East and Europe, improving the company’s outdated
website and restructuring various operational processes to obtain
increased efficiency. ILUS Global Sales Director, Jason Bolze, is
already in Houston with the current management of Precision Powered
Products to plan and action these short-term objectives.
ILUS has stated in previous press releases that it has a clear
triple pronged acquisition strategy in the US, one of which is to
acquire manufacturing capability for its existing products, with
the benefit of absorbing existing revenue streams, intellectual
property, and assets during the acquisition process. Precision
Powered Products has been successfully designing and manufacturing
complex engineered products for almost 40 years, developing, and
maintaining business primarily through recommendations, word of
mouth, successful bids, and renewals. Whilst ILUS will begin
manufacturing its own firefighting pumps and pump related equipment
at Precision Powered Products within 3 months, the company will
also maintain its current focus on quality and excellent customer
service whilst supplementing it with an aggressive sales strategy
and a vastly improved global digital presence.
Now that ILUS is executing on the acquisition of its
manufacturing and distribution capability for its current emergency
services technology in the US, it is already working to complete
the acquisition of fixed firefighting system manufacturing,
distribution, and installation capability in the country. This will
provide the US route to market for ILUS’ revolutionary fixed system
technology that combats battery fires and kitchen fires. The
company is also progressing with the due diligence on a British
group of companies which manufactures and distributes innovative
technology which is strategically aligned with ILUS’ roadmap.
Simultaneously, ILUS is also working on the completion of multiple
partnerships and acquisitions for ground-breaking emergency
response software and IoT solutions.
ILUS Managing Director, John-Paul Backwell, commented: “The
revenue potential for Precision Powered Products, with our
involvement, is astonishing. This will become the manufacturing
home for our US firefighting pumps and equipment, which will work
in conjunction with our existing acquisitions, and they will all
complement each other. We have also eagerly sought the opportunity
to break into the Oil and Gas market in a more direct and targeted
manner and here we are, having obtained expert manufacturing
capability and experience, a strong existing revenue stream and the
opportunity to work with some of the world’s largest
multinationals, ensuring that they not only see the benefits of
what Precision Powered Products can do for them, but what all of
ILUS’ technology and partnerships can deliver for them globally.
The pieces of the puzzle are slotting perfectly in place and we are
delivering on our strategy but more importantly, what we are
creating is a powerful growth machine that will deliver the best
technology to where it is needed most. We have accomplished a great
deal in recent months. I am so proud of our ILUS team for their
efforts, and we are very grateful to our Shareholders for their
support, but we are now using our momentum to push even harder, as
we know we are still only in our foundation phase and not yet
executing on our real growth potential.”
For further information on the companies, please see their
communication channels:
Website:https://ilus-group.com
Twitter: OTC_ILUS
Contact:
Email:IR@Ilus-Group.com
Source: ILUS
Related Links
https://ilus-group.com
Forward-Looking Statement
Certain information set forth in this press release contains
"forward-looking information", including "future-oriented financial
information" and "financial outlook", under applicable securities
laws (collectively referred to herein as forward-looking
statements). Except for statements of historical fact, the
information contained herein constitutes forward-looking statements
and includes, but is not limited to, the (i) projected financial
performance of the Company; (ii) completion of, and the use of
proceeds from, the sale of the shares being offered hereunder;
(iii) the expected development of the Company's business, projects,
and joint ventures; (iv) execution of the Company's vision and
growth strategy, including with respect to future M&A activity
and global growth; (v) sources and availability of third-party
financing for the Company's projects; (vi) completion of the
Company's projects that are currently underway, in development or
otherwise under consideration; (vi) renewal of the Company's
current customer, supplier and other material agreements; and (vii)
future liquidity, working capital, and capital requirements.
Forward-looking statements are provided to allow potential
investors the opportunity to understand management's beliefs and
opinions in respect of the future so that they may use such beliefs
and opinions as one factor in evaluating an investment. These
statements are not guarantees of future performance and undue
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statements necessarily involve known and unknown risks and
uncertainties, which may cause actual performance and financial
results in future periods to differ materially from any projections
of future performance or result expressed or implied by such
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contained in this presentation are based upon what management of
the Company believes are reasonable assumptions, there can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The Company
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change
except as required by applicable securities laws. The reader is
cautioned not to place undue reliance on forward-looking
statements. The Securities and Exchange Commission ("SEC") has
provided guidance to issuers regarding the use of social media to
disclose material non-public information. In this regard, investors
and others should note that we announce material financial
information via official Press Releases, in addition to SEC
filings, press releases, Questions & Answers
sessions, public conference calls and webcastsalso may take
time from time to time. We use these channels as well as social
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post on social media could be deemed to be material information.
Therefore, considering the SEC's guidance, we encourage investors,
the media, and others interested in our company to review the
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OTC_ILUS
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