Canada markets open in 4 hours 24 minutes
  • S&P/TSX

    21,149.00
    +23.10 (+0.11%)
     
  • S&P 500

    4,655.27
    +60.65 (+1.32%)
     
  • DOW

    35,135.94
    +236.60 (+0.68%)
     
  • CAD/USD

    0.7819
    -0.0027 (-0.34%)
     
  • CRUDE OIL

    68.24
    -1.71 (-2.44%)
     
  • BTC-CAD

    72,471.96
    -741.01 (-1.01%)
     
  • CMC Crypto 200

    1,433.05
    +4.11 (+0.29%)
     
  • GOLD FUTURES

    1,799.70
    +14.50 (+0.81%)
     
  • RUSSELL 2000

    2,241.98
    -3.96 (-0.18%)
     
  • 10-Yr Bond

    1.5300
    0.0000 (0.00%)
     
  • NASDAQ futures

    16,306.75
    -84.00 (-0.51%)
     
  • VOLATILITY

    27.11
    -1.51 (-5.28%)
     
  • FTSE

    7,014.06
    -95.89 (-1.35%)
     
  • NIKKEI 225

    27,821.76
    -462.16 (-1.63%)
     
  • CAD/EUR

    0.6879
    -0.0066 (-0.95%)
     

OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Agrees and Signs for the Acquisition of Texas-based Precision Powered Products Incorporated

  • Oops!
    Something went wrong.
    Please try again later.
·8 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

NEW YORK, NY, Oct. 21, 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. 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 reliance should not be placed on them. Such forward-looking 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 forward-looking statements. Although forward-looking statements 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 media to communicate with the public about our company, our services, and other issues. It is possible that the information we 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 information we post on the following social &media channels:
website:https://ilus-group.com Twitter: OTC_ILUS


Note: ILUS Coin does not sit within ILUS International Inc (Ilustrato Pictures International Inc), so the public are recommended to follow the correct Media Channels relating to the public company OTC: ILUS.


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting