OTC: ILUS, ILUS International (Ilustrato Pictures International Inc) Confirms Middle Eastern Market Plans in Response to Increased Demand and Opening of Saudi Arabian Office, in Addition to Recently Opened Dubai Office
ILUS International Inc (OTC: ILUS), a Mergers and Acquisitions firm, is capitalizing on increased oil prices and demand for defense and rescue vehicles in the Middle East. The company has opened a new office in Dubai and is leasing a facility in Boca Raton, Florida, while exploring options in Riyadh. With oil prices expected to exceed $140 per barrel, ILUS anticipates higher capital expenditures in the region, boosting revenues from its subsidiaries. The company is also actively pursuing contracts linked to Saudi Arabia's $500 billion NOEM project and expanding its workforce to meet rising demands.
- Opening new office in Dubai to accommodate up to 75 staff members.
- Leasing a new US office in Boca Raton, Florida for 20 management roles.
- Anticipated increase in revenue due to rising oil prices and demand for defense vehicles.
- Targeting contracts related to the $500 billion NOEM project in Saudi Arabia.
- None.
NEW YORK, NY, March 09, 2022 (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. Due to recent events and the corresponding increased oil price, increased demand on defense and associated rescue vehicles, as well as several multi-billion-dollar construction projects in the Middle Eastern region, solutions from within the ILUS businesses are in high demand.
In addition to its existing factory and offices in Dubai, United Arab Emirates, ILUS recently opened an office in Dubai which can accommodate up to 75 staff members. The office, which is home to members of the ILUS finance, administration, sales, and marketing teams, is located on the 11th floor of the Marina Plaza building in Dubai. This week, ILUS is signing the lease for its new US office in Boca Raton, Florida which will accommodate up to 20 members of its team, primarily in management roles. Furthermore, in response to the increased demand in the Middle East and specific requirements which require local facilities to fulfil contracts, ILUS is exploring several options for offices and facilities in Riyadh, Saudi Arabia.
With the rising oil price which is expected to climb to over
Prior to the increasing oil price, Saudi Arabia itself was already seeing a massive boost in its non-oil economy. Coupled with the increasing oil price, the country is experiencing an even greater economic boom, fueling its increased demand for solutions from within the ILUS stable. ILUS management and senior team members from within its acquisitions hold several strong relationships with senior officials and key decision makers in the region, which has already led to promising contract discussions. ILUS has previously mentioned its targeting of contracts linked to the
In further Middle Eastern developments resulting from heightened demand, BCD Fire is currently obtaining regional permits to distribute fire alarm cable in the Middle East and is in the process of finalizing an OEM supply contract with a large global fire alarm cable manufacturer. The company has previously imported more than 5 shipping containers per month when the strong economy in the region led to increased capital expenditure on infrastructure. BCD Fire has in recent months increased its staff complement to over 60 personnel in order to obtain licensing for the fulfillment of larger installation and maintenance contracts. The company has been completing various projects in Dubai and is also receiving repeated requirements for the supply of large volumes of fire alarm cable and a wider range of fire protection products which it will now distribute to customers and partners. The significant additional revenue generated from distribution sales will lead to increased margin for contracts which BCD Fire is currently installing, given that miles of fire alarm cable are often required for each building where the company installs its fire protection systems.
With substantial growth taking place for ILUS in the Middle East, the company is conducting final stage interviews for its new General Manager for the Middle East, who will report into the ILUS board of directors. This role is currently being fulfilled by ILUS board member, Daniel Link, who due to his extensive experience in the Middle East, has looked after the operational functions of the ILUS businesses in the region, whilst also originating deals for ILUS internationally. In a positive strategic move by the company, Daniel will be transitioning over to lead the ILUS Renewables Division in Southeastern Europe and the Middle East. Daniel’s role will include management of the new ILUS facilities in Southeastern Europe and of new companies being brought into the ILUS group which are soon to be formally announced.
ILUS Managing Director, John-Paul Backwell, commented: “Both Nick and myself have been involved in various companies such as FireBug in the Middle East, which previously saw a huge influx of business when the oil price increased and when there were large construction projects related to sporting events, smart city developments and simply the general push by Middle Eastern countries to attract more attention than their neighbors. We are seeing the same thing happen at the moment as the Middle Eastern market invests and upscales. I know we are in the best position than we have ever been to capitalize on the increased capex in the region. For example, we are already seeing requirements to build new rescue vehicles for oil and gas customers, to armor plate ambulances and humanitarian aid vehicles, to supply rapid response firefighting vehicles for a chain of hotels, to build rescue drone prototypes for testing in the UAE, to import and supply container loads of fire alarm cable and equipment, and even to design customized health and safety training for a group of 32 independent schools in the Middle East. It’s this and more which drives the urgency of our new facility requirements in Saudi Arabia, following on from our new offices in Dubai. In the same way that we are laying a strong foundation in the US with both manufacturing and distribution capability being acquired and with more on the way, we are also gearing up for extensive growth in the Middle East, where we are already well positioned to execute. We look forward to updating Shareholders on our more significant new deals in the Middle East soon, as well as updating on our new Boca Raton offices and on much more exciting news as it happens over the coming weeks.”
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Source: ILUS
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