NEW YORK, NY, July 01, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) is forging ahead with another key phase of expansion after achieving a number of important second-quarter goals in its global M&A strategy to acquire and develop technology-based companies.
Having followed up its two first-quarter acquisitions with a third in the second quarter (BCD Fire), ILUS International (ILUS) is anticipating a strong third quarter, with several more acquisitions, including one in the USA, close to completion.
In the United Arab Emirates, the company has now commenced production after moving into its new factory in Dubai and is undergoing ISO9001 and 140001 certifications. The factory includes a new vehicle superstructure manufacturing division that uses specialist co-polymer plastic to manufacture Fire Truck and Ambulance bodies.
The significance of Plastic Fire Truck Superstructures, which are already the norm in the UK and much of Europe, is that they are lighter in weight, recyclable, and comparably low on maintenance and cost.
The company’s new Dubai plant is believed to be the only plastic vehicle production facility in the entire Middle East, with the UK and Europe previously supplying all the region’s plastic bodies. ILUS intends to replicate this plastic vehicle body production capacity in a new USA facility to be established in the third quarter. Currently, the majority of USA trucks are still manufactured from metals.
In order to support its rapid growth, the company has recruited a number of key staff, and is continuing to identify and bring in more outstanding talent. Following its recent appointment of an experienced General Manager for UK and Europe, ILUS is in the process of recruiting a General Manager for the Middle East, as well as five engineers for the Dubai factory. Additionally, a specialist EV Engineer is being enlisted to continue the development and support the rollout of the E-Raptor into the USA market, and global distribution. ILUS is also headhunting a Technical Director for the USA factory, and is close to appointing a Director of Fixed Systems to accelerate the certification of its fixed firefighting systems, including the much-awaited kitchen system.
With the second quarter only just ended, the accounting team is working full out to have the group’s financials consolidated on time to meet the quarterly filing deadline. Despite its two major markets being in lockdown, ILUS generated almost $3mil of revenue in the second quarter, keeping the company on target to achieve its forecast of $15mil to $20mil annual Revenue Run Rate by the end of 2021. ILUS is targeting a $50mil Revenue Run Rate by the end of 2022.
After working with the Canadian authorities for several months, ILUS management successfully lifted the Canadian Cease Trade order to allow the Canadian markets to trade ILUS stock. The company is currently working with the Transfer Agent and its attorneys in order to improve the Share Structure, cancelling some shares and retiring or reallocating other shares. Once this has been finalised, the OTC will be updated and should show an improved Outstanding Share Structure.
In association with the company’s strategic partner, the ILUS coin was successfully launched and listed on a Decentralised Exchange PanCake Swap and a Centralised Exchange LA Token. The coin’s following and popularity are now growing, following a challenging journey that saw the crypto market (Bitcoin Dodge and Ethereum) reach an all-time high during the launch, and then crypto prices crashing. The partnership has worked well and the company expects it to flourish during the second half of the year.
While the world still feels the pressure of Covid-19, many countries are making great progress with their vaccination programs and are starting to return to more normalised trading for the second half of 2021. In recognition of this, ILUS is in the process of booking a series of exhibitions, roadshows and demonstrations for the end of 2021 and through 2022. Roadshows and demonstrations are key to gaining traction and adoption in new markets. ILUS has already confirmed that it will exhibit at Intersec Dubai in January 2022, FDIC in Indianapolis in April 2022 and the Emergency Services Show in Birmingham in September 2022. Many more events and roadshows are planned, as the company looks to let the products speak for themselves when demonstrated.
Anticipating a strong second half of the year, with growing revenues, acquisitions, USA set up and improved operations, ILUS is placing a big focus on marketing and PR for the remainder of 2021. In addition, all companies in the group are currently bidding on substantial contracts, which are expected to be awarded in the third quarter.
ILUS CEO, Nicolas Link, commented: “The second quarter has been a period of consolidation, during which we have been regrouping after a whirlwind first quarter. From the outside, it may appear that not many scores were added to the board, but in fact, this second quarter was a vital foundation-building period for the company to catapult it forward into what we expect will be an epic second half of the year. The third quarter should get off to a flyer with expected acquisitions in the first half of the period, and we will be exponentially building from there.”
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