NEW YORK, NY - (NewMediaWire) - May 9, 2023 - ILUS International Inc. (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and growing companies in the public safety, industrial, defence and renewable sectors. Having previously announced that its Industrial subsidiary, Quality Industrial Corp. (OTC: QIND), had appointed Exchange Listing LLC as Capital Market Advisor for its NYSE American listing, the company confirms that it has been making strong progress towards this listing in the late summer of 2023. With the listing process of QIND underway, ILUS is now preparing its emergency response subsidiary, Emergency Response Technologies (ERT), for its own uplisting following its large acquisition currently in negotiation.
Working closely with the Exchange Listing team, the ILUS and QIND management teams have made exceptional progress towards finalizing QIND’s NYSE American listing application. Given that the process for QIND is running smoothly, ILUS is now focussed on ramping up ERT’s progress with the objective of uplisting ERT to a major stock exchange along an agreed route at the end of 2023 or early 2024.
ILUS is implementing several strategic measures to ensure that ERT can confidently uplist to a major stock exchange along the route agreed with the Exchange Listing team. These measures include but are not limited to:
- Completing the large US vehicle manufacturing acquisition which is currently in negotiation.
- Merging the two current ERT companies in the US under ERT North America with the large US acquisition to be added under this umbrella, all led by ERT CEO, Dan Peters (former President of Rev Group’s Fire Division (NYSE: REVG)).
- Merging the four ERT companies in the Middle East under ERT Middle East, managed by a newly appointed General Manager reporting to Dan Peters.
- Consolidating all manufacturing outside the US for all products and vehicles from the UK and Dubai to Serbia, leveraging Serbian government incentives in the process. This transition is currently already underway.
- Merging the European manufacturing and a European acquisition currently in negotiation under the ERT Europe umbrella.
The measures taken will streamline ERT’s operations and significantly improve ERT’s financials while reducing operational costs by 20-25%.
“Now that QIND’s progress towards the NYSE American has gained momentum of its own, we are aggressively rolling out our ERT strategy in line with its own planned route towards a major stock exchange. Our strategy for uplisting ERT is unique, and we believe it can be delivered within an impressive time frame after the QIND uplist, with QIND also serving as a “springboard” for ERT. We believe that each subsidiary uplisting should bring significant value to ILUS Shareholders as ILUS remains the parent company reaping the rewards of all subsidiary growth and success.” said ILUS Managing Director, John-Paul Backwell.
ILUS is in the process moving FireBug’s current manufacturing to Serbia in a phased process which will see all FireBug products and vehicles sold outside the US manufactured in a facility alongside the already agreed E-Raptor electric utility vehicle facility in Kragujevac. There is a separate plan for FireBug manufacturing in the US to be implemented in conjunction with the planned large acquisition. The company is also currently discussing a new automotive manufacturing deal in Serbia, with ILUS Managing Director traveling to Belgrade next week for further negotiations on the deal.
“We believe it is important to keep our Shareholders updated on our progress and strategy as we continually assess, align and pivot if needed based on macroeconomic and geopolitical factors. Working with the Exchange Listing team, we are now more capable and confident to deliver our clear strategy for the uplisting of both QIND and ERT, with other subsidiaries to follow thereafter, but it is just as important that we streamline and simplify our operations to reduce operating costs and position ourselves to win larger contracts, such as the large ERT and Hyperion Defence contracts we are currently bidding for in the Middle East and Europe,” commented ILUS CEO, Nicolas Link.
ILUS looks forward to providing further updates this week, including announcement of the first contract signed by its Defence subsidiary, Hyperion Defence Solutions, followed by a video podcast with Nicolas Link and John-Paul Backwell.
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