OTC: ILUS, ILUS International (Ilustrato Pictures International Inc) Announces an Update on Its Commercial Electric Vehicle Manufacturing Acquisition in South-Eastern Europe
ILUS International Inc (OTC: ILUS) is advancing its M&A strategy, having completed three acquisitions in the first half of 2021 and signed agreements for four more. The company is set to acquire a 652,000 sq. ft. manufacturing site in South-Eastern Europe to produce its Commercial Electric Utility Vehicle (UTV) range. This project is backed by substantial European government incentives, aiming to create 150 jobs and generate $8 million in 2022, with projections of 5,000 jobs and $100 million revenue by 2030. Full production is expected by Q1 2022, paving the way for a significant market presence in electric vehicles.
- Acquisition of a 652,000 sq. ft. manufacturing site with government incentives.
- Projected creation of 150 jobs and $8 million revenue in 2022.
- Long-term projections indicate 5,000 jobs and $100 million revenue by 2030.
- Expansion into the $315 billion commercial electric vehicle market expected to triple in five years.
- None.
NEW YORK, NY, Dec. 16, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) remains focused on its M&A strategy of acquiring and growing global technology companies. The company completed 3 acquisitions in the first two quarters of 2021 and has since signed agreements for a further 4 acquisitions, of which it is planning to fully complete at least two of these acquisition transactions before year end. ILUS has also recently made significant progress on its much-anticipated European deal, which has now been approved at European government level and the first phase is awaiting sign off, following standard administrative procedures. During this first phase, ILUS is acquiring a large manufacturing site from the government for the manufacture of its Commercial Electric Utility Vehicle (UTV) range and component parts for supply to the electric vehicle and renewable energy industries.
In the first phase of the deal, ILUS has agreed the acquisition and privatization of a 652,000 square foot manufacturing site from the government in South-Eastern Europe. ILUS will be using this site to manufacture its complete commercial Electric UTV range as well as Other Equipment Manufacturer (OEM) component parts for the electric vehicle and renewable energy industries. The agreed Manufacturing Investment Project involves several incentives provided by the European government to ILUS for the manufacturing of innovative technology to be exported globally. Some of these government incentives include but are not limited to the provision of manufacturing facilities, substantial rebates for all staffing requirements and manufacturing plant machinery, assistance with necessary licensing and approvals and preferred bidding for large government manufacturing and supply contracts in the region. The commercial electric vehicle market is currently valued at
ILUS will be acquiring a “Brownfield” site with further details on the specific location and site details and plans to be unveiled as soon as all administrative documentation has been signed off. With existing industrial warehouses and administrative buildings already in place, ILUS will begin by making some site upgrades and commissioning the manufacturing plant whilst immediately recruiting the first of the 150 staff that will operate from the site in 2022. A wide range of jobs will be created including engineering design, fabrication, assembly, mechanical engineering, electrical engineering, finance, administration, operations, quality assurance, human resources, information technology, supply chain, logistics, maintenance, sales, account management, marketing, and management.
To illustrate the sheer scale of the manufacturing operation, ILUS is establishing an end-to-end production facility for its specialist commercial electric vehicles, with departments to include: Finance and Cost Control, Sales and Marketing, HR, Industrial Relations and Administration, IT, Research and Development, Supply Chain and Logistics, Production Planning and Control (PPC), Production Engineering, Manufacturing Engineering, Production/Manufacturing, Quality Assurance and Quality Systems, Testing and Validation, Packaging and Dispatch and finally, Maintenance and Service Level Agreements. The production and manufacturing engineering departments will operate the very latest in CNC machining, aluminium, steel, plastic bending, and welding machinery whilst the manufacturing department will operate several production lines for each component category such as: Chassis, E-Motors, Batteries, Suspension, Brakes, Wheels and Tyres, Steering pump and system, Interior, Assembly and Testing. A phased approach to production will be in place with production lines being scaled up as manufacturing demand increases. ILUS aims to begin manufacturing with 45 staff per shift in the Production department, with this being increased to two shifts per day after 9 months.
Once final approvals are in place, ILUS expects to begin commissioning the manufacturing facility at the start of January 2022, with some manufacturing to begin in February and full production to be underway by the end of the first quarter. Recruitment is underway and three senior managers have already been appointed to lead key departments in the facility. ILUS also has an existing team in place in the country that is working closely with the government to ensure that administrative procedures progress efficiently over the coming weeks and months.
ILUS already sells its E-Raptor 6-wheeled electric UTV across the Middle East, Asia, and Africa. This vehicle is currently the only 6-wheeled electric UTV available globally. Whilst this vehicle itself has been completely redesigned, ILUS is currently designing a whole range of new vehicles to add to it. This entire range of commercial electric vehicles will be made at the European manufacturing plant. In addition, ILUS has also subsequently been in positive discussions with a prominent North American Light Electric Vehicle (LEV) manufacturer, with this and other similar global opportunities potentially leading to sizeable manufacturing contracts for the European manufacturing plant.
Having met with senior Government representatives again early this week, ILUS still expects to announce the signing off on this Manufacturing Investment Project before the end of the year. With this deal representing the first phase of a much larger deal with the European government, the company is still on track to announce the second phase early next year. The second phase is a monumental privatization deal whereby ILUS will be taking over existing manufacturing facilities from the government, with 1,500+ staff already employed at the manufacturing facilities. The manufacturing facilities will produce innovative ILUS vehicles for the emergency response and military industries and the agreement is expected to involve long-term government supply contracts.
John-Paul Backwell, ILUS Managing Director stated, “This first phase European deal will represent a milestone achievement for us as it presents a significant upside to ILUS and its Shareholders, given that such a significant revenue generating opportunity is being acquired at almost zero cost to ILUS, through the way the deal is structured, and the incentives involved. I am so glad that we can play such a pivotal role in creating thousands of new jobs and I believe that through this deal and its next phase, followed by other deals which are linked to this, we will play a major role in transforming the entire region into an innovative global economic hub. This deal should see our commercial electric vehicles being put onto the global map and it will mean our supply of electric vehicle technology to some of the world’s largest global EV manufacturers and renewable energy suppliers.”
ILUS CEO, Nick Link added, “As the holiday season approaches, we are busier than ever. We have several contracts in the hands of attorneys and acquisition targets. We know that some should complete before Christmas and before year end, followed by others as we kick off the new year. I am pleased with the latest progress on this European deal, and we are eager to get going with production early in January. Thanks again to the ILUS team who could easily say they have achieved more than enough this year and started to slow down, but they have remained focused on making further improvements and getting contracts signed.”
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Source: ILUS
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