QIND Operating Company, Al Shola Gas, Receives Over $1 Million in New Orders Since The Start of July 2024
Rhea-AI Summary
Quality Industrial Corp. (OTC PINK:QIND) announced that its operating business, Al Shola Gas (ASG), received over $1 million in sales orders in the first three weeks of July 2024. The orders include:
- Six new Central Gas System installations totaling $513,000
- Bulk supply of over 250 Metric Tonnes of LPG, amounting to $427,000
- LPG cylinder distribution orders worth $136,000
CEO John-Paul Backwell expressed satisfaction with the strong start to Q3 and mentioned plans to order new bobtail trucks to meet increasing demand. The company is also negotiating project bids in Sub-Saharan Africa and the Middle East, aiming for substantial growth in 2025. Additionally, QIND is working on finalizing a previously announced acquisition to boost its growth trajectory.
Positive
- Received over $1 million in new orders in just three weeks of July 2024
- Secured six new Central Gas System installation orders worth $513,000
- Received bulk LPG supply orders for 250 Metric Tonnes totaling $427,000
- Obtained LPG cylinder distribution orders amounting to $136,000
- Planning to acquire four new bobtail trucks to meet increasing demand
- Negotiating midstream and downstream gas system project bids in new markets
- Working on finalizing an acquisition to boost growth trajectory
Negative
- None.
News Market Reaction – QIND
On the day this news was published, QIND gained 8.00%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN FRANCISCO, CA / ACCESSWIRE / July 23, 2024 / Quality Industrial Corp. (OTC PINK:QIND) is an Industrial company servicing the Oil & Gas and Utility sectors. The company confirms that in the first three weeks of July 2024, its operating business, Al Shola Gas (ASG), which operates out of Dubai, United Arab Emirates, received over
ASG received orders for new installations of Central Gas Systems, bulk gas supply to current customer locations, and distribution of Liquefied Petroleum Gas (LPG) cylinders to both existing and new customers. The summary of orders received in the first three weeks of July, totaling
ASG secured six new orders for Central Gas System installations, amounting to a total of
$513,000. Clients including Sobha Realty, Trends Electro-Mechanical Works LLC, Kitchen Park LLC, and Al Ishrak Contracting LLC have once again placed their trust in ASG to expertly design, engineer, install, and maintain their Central Gas Systems.ASG also received orders for the bulk supply of over 250 Metric Tonnes (Mt) of LPG, totaling
$427,000. T he orders were placed by several customers, including WASL Properties, Q1 Malls, Dubai Sports City, Pavilion Foods, Earth Real Estate, and Aiko Mall.Furthermore, ASG received LPG cylinder distribution orders amounting to
$136,000. Orders were received from the likes of Dubai Holdings, Nakheel, Dubai Golf LLC, and Amma's Restaurant LLC.
"Following a successful second quarter, following which we anticipate filing our results on or before August 15th, we are pleased with our strong start to the third quarter. Recent orders from both our longstanding and new customers indicate the progress we are consistently making," said John-Paul Backwell, CEO of QIND. "In response to the increasing demand for bulk gas supply, we are proactively ordering two new bobtail trucks in the third quarter, followed by an additional two trucks in the fourth quarter. Our ongoing negotiations for several midstream and downstream gas system project bids in Sub-Saharan Africa and the Middle East highlight our determination to expand into new markets and foster substantial growth in 2025. Additionally, we remain committed to efficiently finalizing our previously announced acquisition transaction, which is poised to significantly bolster our growth trajectory."
FORWARD-LOOKING STATEMENTS
This press release contains statements of a forward-looking nature about the Company. You can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "future" or other similar expressions. The Company has based these forward-looking statements primarily on the Company's current expectations and projections about future events and financial trends that the Company believes may affect Company's financial condition, results of operations, business strategy, and financial needs. There is no assurance that the Company's current expectations and projections are accurate. All forward-looking statements in this press release are based on the Company's information on the date hereof. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results to differ materially from those implied by the forward-looking statements. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law. This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company. The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions.
CONTACT
Quality Industrial Corp.
315 Montgomery Street, San Francisco
CA 94104, USA
Phone: +1-800-706-0806
Email: info@qualityindustrialcorp.com
Investor site: https://qualityindustrialcorp.com
Twitter: @QualityIndCorp @ILUS_INTL
SOURCE: Quality Industrial Corp.
View the original press release on accesswire.com
FAQ
How much in new orders did QIND's Al Shola Gas receive in July 2024?
What types of orders did QIND's Al Shola Gas receive in July 2024?
What expansion plans does QIND have for its gas supply business?
When does QIND expect to file its Q2 2024 results?
